Larry Edelson -

U.S. hasn’t fixed underlying financial problems …

by Larry Edelson on September 14, 2009

Nobel Prize-winning economist, Joseph Stiglitz, in an interview from Paris yesterday: The U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.

{ 6 comments… read them below or add one }

Joseph Lassiter 09.14.09 at 4:27 pm

Dear Larry,
I come to this point because the link that i received from your letter on Martin Weiss’s mailing does not work. Thank you for the opportunity to responsd so simply. If you must use a name, use my pen name joelas.

What I am doing is not buying any clothes, no meals out, living as healthy as I know how to prevent medical bills, no pleasure travel, turn off the AC, minimize trips, have 40 mpg car, cut employees salaries and dismissed some, buying food at farmer’s market, no soda, no beer, shut down building business, Offered all assets for sale at 50% off.
Consider that we have a national emergency as to the value of the Dollar. Desperate action is needed.
Change we need now is to reduce the government spending which we can’t afford What I would recommend the government do is Repeal the stimulus package and freeze the unnecessary spending and return the excess to the treasury, freeze all pork and earmarks not yet spent in what ever bill, give president line veto over budget items retroactive, forget the carbon tax for ever, accelerate alternative energy including nuclear, drill for more oil off shore and AWAR to reduce deficit, just get out of the way and let private enterprize do it without lengthy permit procedures, Shelve the Obamacare, we can’t afford it, make cost reductions to health care including tort reform, portable policies, establish uniform policies and buy across state borders, get fraud out, end defensive extra tests, put data, billing and prescriptions on line to save time and errors. Doctors and hospitals shouldn’t charge for errors, Remove corruption between FDA and drug companies, promote new food pyramid designed for health and not to promote agribusiness, set up independent scientific agency to test alternative medicines and treatments to determine safety, efficacy and cost and publicly publish the results in simple language, Reduce patent time on new drugs. Outlaw direct to consumer advertising of drugs and procedures, outlaw drug companies bribing or rewarding doctors to prescribe their medicines and pharmacies disclosing doctors individual prescribing results. Tax heavily unhealthy foods like soda and junk.. Shut down Acorn and stop funding it. Don’t change the tax structure, we need stability. . Stop all subsidies except alternative energy and Medicare and Medicaid. Set down payment minimum on credit so that few will be likely to fail.

Dan Klaus 09.15.09 at 10:32 am

the underlying financial problems cannot be inflated away by the fed…that’s why i reworked by portfolio away from dollar denominated stocks and moved to gold stocks and china…and also reduced life expenditures…luckily i have a place ready overseas if things get bad…

Don Hoffman 09.15.09 at 10:56 am

I heartily agree with all the comments….but then this person demonstrates the commom sense that is not at all common among our public servants. Government officials have become the royality and the public have become the servants.

Brother Dave 09.15.09 at 1:44 pm

Larry,

Your reports and commentary are reassuring. I am learning not to worry about market disruptions, government interventions, inefficiencies or volatility. Instead, they are welcome opportunities to position for the future and trade profitably!

penny peden 09.18.09 at 4:12 pm

What do you do! your report is not reassuring to me at all,what do we do?????????????????????/

Computers & Tech 09.20.09 at 7:03 am

Hello there,
Nice site, I just came across it and I’m already a fan.

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