iPad

It’s been a couple of weeks since I received my iPad now and felt it appropriate to write a follow up review. I’ve used it at least 5 hours a day since it arrived! In fact this post was written on it.

Many people have complained about typing on iPad. Personally I’ve not had too many issues. I’m a hunt and peck typer used to typing on an iPhone screen. Comparatively, the iPad is a big slice of awesome! I can see where a touch typer would prefer a physical keyboard though.
So far, I’m still a little in awe with the device. From the crisp and brilliant display, huge touch screen, and iBooks reading experience to the 12 hours of battery life it’s pretty incredible. I’ve ditched my Macbook Air and use the iPad for work when I’m on the road. In fact, the Remote desktop application I use with gesture control makes even Windows 2000 server edition somewhat cool!

The iBooks interface is by far the best eBook reader out there. The easy to use store and free preview option that lets you browse the first few chapters of a book is very cool. Reading is a pleasant experience and the animated page turning makes it feel like you’re reading a real book. Unfortunately book selection is limited at the moment and the prices are higher than Amazon. For these reasons, I often preview books where possible on the iBooks store and then ultimately purchase them through Amazon. The Kindle app is similar in appearance to iBooks yet not quite as well designed graphically speaking. The trade off however is that it uses more of the screens real estate to display text. It also allows you to highlight text and insert notes, which I find really useful.

Apps look amazing on the iPad. iPhone only apps work, but they either show up very small or very scaly if you zoom to full screen. Because of this I deleted most of my iPhone only versions, plus the fact that with the larger screen using web based versions of Facebook and Twitter is a more pleasant experience.  Photos look fantastic on the screen and being able to manipulate them with your fingers is a really great experience that makes them feel more real.

I’ve found that computing has become a more intimate experience where we no longer want to sit at a desk top but rather be on the go in a comfortable environment of our choosing. The iPad only makes this even more true as your fingers allow you to reach out and touch your data.

Some of the limitations are the obvious lack of Flash and the slowness of streaming videos. I’ve also had the WiFi crap out periodically which is a known problem (likely due to the aluminum back blocking the signal). It’s also caused me to hate using my iPhone for anything other than checking my email. The screen seems sooooo small after using the iPad that the experience feels sub par and lacking. I also wish they’d installed a camera and included a micro SD slot.

Overall, I’m delighted with the iPad and think that it’ll revolutionize computing the same way the iPhone did for music. We’ll likely see a further evolution of tablet devices that will include motion control and screen resizing based on eye movement.

My suggestion to everyone is to go out and try the iPad. It’s really the experience that’ll ultimately sell you. Congratulations Apple, you’ve once again made another must have product. Now if you’d lay off sending out your secret police to kick in peoples doors……

iPad – I couldn’t resist

When Apple announced their latest product, the iPad, I scoffed at the name (which quickly became the bunt of so many jokes) but decided to give them the benefit of the doubt and watch the Keynote address to find out more about this revolutionary device. To be honest, it left me feeling disappointed.  Revolutionary?  It’s basically just an over sized iPod Touch!  I was convinced that it’d be a major flop and had no desire whatsoever to purchase it.  I already owned a Sony eBook reader for my eBooks, along with 2 iPhones, an iMac, Apple TV and a Macbook Air.  I saw no place for the iPad.  I figured that Apple would have a really hard time convincing people to replace their Kindles and eReaders for the iPad.  I was wrong.  As always, the magical Steve Jobs has somehow done it again.  He’s created yet another must have product.  As time went on, the more I learned about iPad along with the positive reviews flowing in from those using it, I became convinced that I needed one!  But I still had a couple of doubts.  When they advertised a battery life of 10 hours I thought ”yeah right! Under lab conditions while in a fridge with the contrast all the way down and WiFi turned off!”  Actually, people are reporting getting 11-12 hours of use on a single charge!  And they claim to be continuously using the device for apps, web surfing and reading books.  That’s 1 for Apple, 0 for the critics!  But won’t using the device for extended reading cause eye strain compared to the eInk on the Kindle and other readers?  Nope!  Independant tests have shown no conclusive evidence of reduced eye strain reading on an eInk screen.  Turns out that it’s more of a sales pitch than a reality!  In addition, iPad has a sensor that automatically adjusts the screens brightness based on the surrounding ambient light!   iPad 2, critics 0!  Then I saw how I could still read my existing eBooks and Kindle books from my iPhone on the iPad, along with downloading any other eBook (say from my local library) in the ePub format.   My biggest beef with the Sony eBook reader is the crappy and buggy software that comes with it.  Plus the fact that I have to plug it in via a USB cord to transfer books.  With the iPad, I could do this through the familiar and easy to use iTunes interface and do it wirelessly!  As I explored the other possibilities with iPad, I decided that I could likely sell my MacBook Air as well!  I could eliminate 2 devices and replace them with the iPad!  Not only that, I’d get a longer battery life using my iPad over the Macbook Air!  I didn’t see a need to wait for the 3G version to come out as I can tether via WiFi to my iPhone and use my existing 6GB/mo 3G data plan instead (my phone’s always with me anyhow!)  So I went onto eBay and placed a bid on a 16GB iPad with the case and a 2 year Apple care plan.  Brand new.  I won!  I ended up paying $20.00 more than I would have paid in the store, but still cheaper than what they’ll likely charge in Canada when you consider most other apple products in Canada have a 10% premium plus 12% tax on top of the sale price.  It should arrive next week and I must say I’m more than a little excited.  Will I be able to get by without my laptop?  I think so but time will tell.  The windows Remote Desktop app will allow me to access our company servers so I can use all of the software I currently need.  Most of my documents are stored in the cloud so the storage capacity doesn’t concern me either.  No camera or USB, but I don’t need them on this device anyway!  I’ve got an iMac for that! 

What are your thoughts on the iPad?  Do you plan on buying one?

Must read books that will change your life!

I thought I’d share a list of must read books that I’ve personally read over the last several years.  I truly believe that each of them contain valuable information that has the potential to drastically improve your quality of life!

In no particular order, here’s the list:

Unlimited Power – Anthony Robbins

7 Habits of Highly Effective People – Steven Covey

The Richest Man in Babylon – George S. Clason

The Wealthy Barber

Rich Dad, Poor Dad

Learn to Earn

One up on Wall Street

Trend Following – Michael W. Covel

The Complete Turtle Trader – Michael W. Covel

Think and Grow Rich – Napoleon Hill

The Story Factor – Annette Simmons

The 4-Hour Workweek – Tim Ferriss

End the Fed – Ron Paul

Might I suggest you also download the FREE Amazon Kindle App for your iPhone?   I use mine most of the time as I always have my iPhone with me.  It’s pretty awesome actually!

Here’s to your growth and success! 

Duncan

Healthcare Reform in the US

 The US Congress cast an historic vote on healthcare this last Sunday.  With it, we’ve witnessed further dismantling of the Constitution and unprecedented expansion and reach of the Government.  The legislation doesn’t address the real reasons access to healthcare is a struggle for so many – the astronomical costs.  If costs were lowered, more people could afford to pay for what they need out of pocket.  Instead, the Government is going to force millions of Americans to pay even more in mandating that they buy insurance.  Anyone found guilty of the felony of not being a customer of a big and greedy health insurance company will be issued a fine from the IRS.  To enforce this rule, they’ll need to hire some 16,500 new IRS agents to police these new mandates! 

This bill is so blatantly unconstitutional and contrary to the ideals of liberty.  Nowhere in the constitution is there anything approaching authority for the Federal Government to pursue this.  The founding fathers must be rolling over in their graves seeing that all US citizens must buy a product from certain government approved companies.  What’s more, the costs of healthcare are still going to continue to spiral out of control as the new legislation does nothing to address the costs.

The US have just added another trillion dollars to their debt, plus the cost of hiring and further expansion to run and enforce these new programs.  How do they plan to pay for this?  By taxing those with incomes above $200k ($250k per family) a little more?  That won’t cover the full cost, regardless of what they’d like you to think with their Robin Hood story.  The reality is that they’ll do what they’ve always done and monetize the debt by increasing the money supply (printing money).  This is just one more nail in the coffin for the once free and great nation that used to be the envy of the world.  Maybe Ayn Rand was more accurate in her predictions that even she knew in her novel “Atlas Shrugged”?! 

As the majority of working Americans see their incomes, net worth and purchasing power further erode, there’ll no doubt be a revolution and long overdue house cleaning.  The weeds of Government must be cut back to allow the free market economy to flourish once again and restore the power where it belongs - in the hands of the people!

New Canadian Mortgage Rules

Our Finance Minister Jim Flaherty announced new rules Today aimed at protecting real estate investors from overextending themselves when mortgage rates rise.

He met with several major Canadian lenders to discuss the potential “Real Estate Bubble” forming in Canada and decide what additional safeguards could be put into place to prevent over speculation.

“There is no evidence of a housing bubble, but we’re taking prudent steps today to prevent one,” he said at a news conference in Ottawa. “If some lenders aren’t willing to act themselves, we will act.”

The new rules basically involve three components:

1) All borrowers must qualify based on the requirements for a current 5 year fixed mortgage rate whether they go variable or for a shorter term.

2) The amount that Canadian’s can withdraw when refinancing their home is reduced from 95% to 90% of the value of their home.

3) Ottawa will now require a minimum 20 per cent down payment to qualify for CMHC insurance for non-owner-occupied properties purchased as an investment.  - The last rule is aimed at tightening standards for real estate speculators investing in multiple properties.

Many (including myself) had speculated that they would reduce the maximum mortgage amortization from 35 years to 30 years.  This was not applied, however Flaherty did say that all options are still on the table should circumstances change.

The new changes will take effect on April 19, 2010.  Will we see a rush into housing to avoid these new regulations between now and April?  Maybe.  Is it likely that real estate prices will slow and possibly drop over the next year?  Who knows.  My thought is that rates will continue to remain low as the US maintain their low rates.  We’ll likely see real estate speculators investing their capital into other areas which could create an investment opportunity and bull market elsewhere.

Bottom line is that we must all live within our means and plan ahead for changing circumstances.  A home is a place to live and raise your family.  It should not be an ATM.  A mortgage is something that should be paid down, not passed on to your children when you die.

California the canary in coalmine of US economy

Article from www.ThecomingDepression.net

State Controller John Chiang issued a stern warning Friday about California’s cash reserves, telling legislative leaders and Gov. Arnold Schwarzenegger they must act on nearly $9 billion in budget cuts the governor is seeking by March — or the state will run out of cash to pay its bills. — Denis C. Theriault Mercury News
Without making those cuts — which Chiang says will pump $1.3 billion into the state’s checking account — California would be broke by April 1, no fooling.

The state wouldn’t climb back to what’s considered a safe level of cash on hand, $2.5 billion, until later that month, when tax revenues are expected to begin flowing into Sacramento.

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California is the US version of the “canary in the coal mine” for intelligent “small L” liberal voters about what inevitably happens to jurisdictions that:

1.Heavily progressively tax the earning middle class, and wealthy massive government spending and wealth transfer to the throngs of undeserving amongst the poor.
2.The thinkers, inventors, workers, earners leave, and take their businesses, taxes, skills, and job creating productivity with them.

Depending on the study and the year the study was done, California is placed somewhere between 5th and 10th as the largest economy on the Planet. California’s economic activity accounts for 13% of the entire United States yearly goss domestic product (GDP). Many other states are teetering on the same edge of insolvency as California. Florida and Arizona to name two.

Worlds largest economies: 1. United States 2.China 3. Japan 4. India 5. Germany 6. Britian 7. Russia 13. Canada

Although the list changes order from time to time the players are the same. The bottom line is that the U.S. is in serious financial trouble because the world is fast learning that “greenbacks” don’t really taste that good and provide no nutirtion whatsoever.

Americans are going to have to face the fact that governments have, like all of us do, two ways of getting rid of the deficit: earn more (ie. raise taxes) or spend less (ie. cuts to services). Those are the only means at their disposal. For the voting public, cuts to services are easier to bear than more taxes. Inevitably, taxes will have to increase in the US.

Another California yard sale?

California, the 7th largest economy in the world — larger than Canada’s — is bankrupt. Maybe a garage sale is a “feel good” idea but, if they are going to get their deficits under control people are going to have to take cuts to services and wages the likes of which they have never seen before.

Maybe next they’ll try a State wide Bingo to see if that helps. The bottom line is that ruthless cuts to their standard of living is the only thing that is going to reverse the mess they are in.

California’s tax revenues took a steep hit when the US economy melted down during the sub-prime mortgage fiasco. Investors , including the very affluent, lost billions in investments. California used to derive about one-quarter of its tax revenues from the very wealthy. When their incomes were cut in half by the investment market crash, the amount of taxes they paid was also cut by half. This meant California lost about 12.5%, or one-eighth of its total state tax revenue. Imagine losing one-eighth of your income and the resulting changes you’d have to make.

Californians, and their central banking overlords, are the ones responsible for their budget woes. The State is a classic example of the duality of the modern citizen: demanding services while refusing to pay taxes. California used to have an outstanding public education system and now it is one of the worst in the US. When Prop 13 was enacted, limiting property tax increases, the voters simply did not consider what the results would be: they just looked at their rising property values — partially because of the expectation that housing prices would keep going up because of central banking practices — and lower tax bills while cheering their lungs out.

The problem predates pretty much every administration most people could name. The State has been heading for bankruptcy for 30 years as they desperately attempted to find ways to fund the services people demand. The use of illegal labour simply exacerbated the problem as the exploited employees over burdened social services. It is comical how there is a large chunk of the population willing to enjoy the benefits of society but only accepting the need for taxes grudgingly.

California, the ultimate entitlement state, is a crippled and drooling giant relying upon massive importation of water, electricity and illegal labour to continue their ruinous path. Residents of the state largely live in their own dreamland, the structure of which depends on their location. California is the land of the pre-W Bush Republican and the bleeding heart Democrat with seemingly little middle ground. When the time comes to “rule by proposition” the swing voters love to show how liberal they are and also how much they hate taxes. The unfunded mandate is standard in California.

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“While our current cash condition is marginally better than it was one year ago,” Chiang wrote to leaders, “it is still precarious.”

Even with the budget cuts, the state’s cash reserve would still be far below that cushion in March and April.

To that end, Chiang is calling for an additional $2 billion in cash-flow “solutions.” Looking at previous cash crunches, that could mean some payments, like income tax refunds, would be delayed for a few weeks to keep the cushion intact.

“Call it overdraft insurance,” said H.D. Palmer, spokesman for the state Finance Department. He stressed that officials are still huddling over specific solutions.

If the budget gridlock lingers all the way to July, then IOUs could come back into play.

Related posts:

1.California budget already bankrupt 10 weeks after passage California Budget Is Already in the Red 10 Weeks After Passage Oct. 10 (Bloomberg)…
2.California’s On Way To First Failed State It sure seems like California is insolvent. Today we heard that Arnold Schwarzenegger has…
3.US Posts Biggest Fall In Tax Revenue Since 60s By CONOR DOUGHERTY State tax revenues in the second quarter plunged 17% from a…

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Fear Takes the Wheel

Article by Peter Schiff, Euro Pacific Capital

Over the past three or four years a strange phenomenon has developed in the global investment markets. With some exceptions, many asset classes, in particular domestic and foreign equities, commodities, and foreign currencies have tended to move in the same direction on a day to day basis. The mega-correlation has lasted so long that most now take it for granted. This leaves investors with relatively simple choices: when to get in to the market in general and when to park assets in cash and U.S. Treasuries.

However, few recall that this pattern is relatively new in the annals of financial history. Fewer still realize the reason for the current anomaly. From my perspective the most logical explanation is fear, which has become global, pervasive, and persistent. Traditionally, when investors fear inflation they buy stocks, commodities, gold, and foreign currencies, and sell dollars and U.S. treasuries. When they fear deflation they sell stocks, commodities, gold, and foreign currencies, and buy dollars and U.S. treasuries. The problem is that right now, no one knows which one to fear. Depending on the news the pendulum swings from one extreme to another on a daily basis.

The natural consequence of an inflationary boom should be a deflationary bust. We’ve had the boom, but so far we have avoided the lion’s share of the bust, or at least the deflationary part. If the government were pursuing a sounder monetary policy, one that allowed markets to function properly, the deflationary scenario would be playing out. While in the long-run this is the correct approach, such a scenario would be very bearish for stocks, commodities and many foreign currencies. If on the other hand, the government fights the recession by putting the inflation pedal to the metal (which is the course they have chosen) investors should look to real assets and certain foreign currencies to protect their purchasing power. But for the most part, that is not happening.

The foreign exchange markets seem to be the center point for this inflation/deflation tug-of-war. After all, if asset prices are falling, cash is king. Since the dollar is still the reserve currency, it is the king of cash, and benefits most from the global deflation scenario. When the dollar rises, treasuries go along for the ride, as investors need a “safe” place to park them. But when the U.S. government reveals yet another staggering deficit forecast, inflationary fears come right back. Hence, a market without a clear direction.

Many look at this dynamic from the perspective of risk appetite rather than fear. They claim that when investors seek risk, they buy risky assets, such as stocks, but when they are risk adverse they seek the safety. But those who fear inflation sell dollars and treasuries not because they seek risk, but because they seek to avoid it.

Of course, if investors felt that the Fed would actually fight inflation with aggressive rate hikes then higher inflation would be perceived as detrimental to stock performance. However, just about everybody realizes that there is virtually no inflation scenario virulent enough to encourage Ben Bernanke and his cohorts to actually raise rates. In actuality, the most feared probabilities are that inflation runs out of control, or that deflation overwhelms the Fed’s efforts to prevent it.

From this perspective regardless of the direction of the stock market, assets are simply being re-priced to reflect one of two very unpleasant outcomes. Those who look at rising stock prices as a harbinger of economic growth are therefore mistaken. These moves more than likely reflect investors growing fear that the U.S. debt levels will swamp the dollar.

Given the extent of the fundamental problems that underlie the American economy, and degree to which government policies are making these problems worse, there can be little conviction that our economy will return to sustainable growth anytime soon. Therefore, attributing stock market strength to inflation fears rather economic strength makes far more sense.

Also, if higher U.S. stock prices really did result from an improving U.S. economy, the dollar would be rising in tandem with stocks. However, every time stock prices rise the dollar falls. The best explanation for this dichotomy is that it is inflation not growth that drives both stocks and the dollar. So rising stock prices do not really indicate a bull market in stocks, but a bear market in the dollar. Those who cannot differentiate between the two will continue to misread the market and the economy.

The Fed’s New Plan – give money to the Banks

The Fed’s “Exit Plan” Is Just Another Secret Gift To Wall Street

The Fed is planning to detail its “exit plan” this week, the WSJ says.  This exit plan is the means by which the Fed will gradually reverse the tremendous stimulus it is still pumping into the economy and financial system.

Written by Henry Blodget via Peter Grandich

…..read the written summary below…..

As we’ve noted often over the past year, the Fed is in a bind.  During the financial crisis, it bought hundreds of billions of dollars of real-estate and other assets from banks to reduce mortgage rates and ease the pressure on bank balance sheets.  This, in turn, pumped hundreds of billions of new dollars into the economy, which has enabled the banks–and bankers–to make a killing over the past year.  The question is how the Fed can reverse this stimulus without killing the economy.

The idea behind giving the banks cheap money was that the banks would lend it to consumers and businesses.  Unfortunately, that hasn’t happened: Since the start of the crisis, bank lending has fallen off a cliff.  The banks are, however, lending to the Federal government, which needs to fund record deficits by borrowing more than $1 trillion a year.  The combination of the Fed’s desire to stimulate lending via cheap money and the government’s desire to stimulate the economy by running a huge deficit has made it a great time to be a bank: Banks can borrow from the government at artificially cheap rates and then lend the money back to the Federal government at higher rates, pocketing the difference.

And now it’s going to get even better to be a bank.

Why?

Because the first part of the Fed’s exit plan will reportedly be to increase the amount of interest the Fed pays on “excess reserves.”

Banks are required to keep a certain percentage of their assets in cash at the Federal Reserve.  Any cash above this required amount is “excess reserves,” and the Fed is currently paying 0.25% interest on these reserves.  The Fed’s exit plan will call for increasing this interest rate, to encourage the banks to keep more money in excess reserves instead of lending it into to the economy and thus expanding the money supply.

The idea here is that, by increasing the amount of money on account at the Fed, the Fed will reduce the amount of money that gets loaned out to businesses and consumers, thus forestalling inflation.  Increasing interest paid on excess reserves will also put off the day that the Fed has to start selling its real-estate assets back to banks, a process that might create taxpayer losses and raise mortgage rates, which the Fed is loathe to do.

Of course, in the process of increasing interest paid on reserves, the Fed will be paying banks even more not to lend.  In the process, it will be giving banks yet another way to take nearly free money from the taxpayer and give it back to the government at a higher rate–and then pocket the difference.

It’s a great time to be a banker.

Commodity prices to shoot up: Jim Rogers

SINGAPORE (Commodity Online): Globally renowned commodities expert and investor Jim Rogers says world’s focus in the coming years is going to be on agricultural commodities and food prices.

According to him, the prices of agricultural commodities and food are going to continuously rise in the coming years. “Commodity prices are going to shoot up. The challenge is that people are eating more foods these days. But the supply of food products is coming down,” he said.

Rogers, who is now settled in Singapore and who has been investing heavily into agricultural commodities in China, says the biggest problem that the food sector faces is that the inventories of food are the lowest not in years but in decades.

“Food supply is going to remain down since we have serious production problems. At the same time people are eating more and we are burning some of our foods as fuels,” said Jim Rogers.

Jim Rogers, author of the well-known book called Hot Commodities, said that the combination of burning foods into fuels won’t change unless governments quit the debacle of using corn to turn into ethanol.

“That at least would keep the prices of corn relatively in check and available to livestock and human beings at a decent price. If not, corn itself and anything it feeds will increase in price as a result,” he said.

Rogers has said numerous times in the recent past that those that own the fancy cars in the next 10 to 20 years will be those who turn in their briefcases for farming. I think he’s right!

Still, there are numerous ways you can play agriculture, from those providing equipment and seeds to to those providing the fertilizers and other essentials to operate the business.

Water is another key thing to look at over the next years as populations in many areas of the world continue to grow exponentially, with world population growth estimated to be at over 9 billion by 2050.

Jim Rogers had recently blasted several analysts for suggesting that China’s growth is not sustainable and the Chinese economy is caught in a bubble.

Rogers recently predicted that gold prices would surge to touch $2,000 per ounce in the next one decade. He also said that silver and platinum are better precious metals to invest in rather than gold these days.

Keynesianism Delivers a Decade of Zero

Article Extracted from 

Texas Straight Talk

A weekly column

This past week we celebrated the end of what most people agree was a decade best forgotten.  New York Times columnist and leading Keynesian economist Paul Krugman called it the Big Zero in a recent column.  He wrote that “there was a whole lot of nothing going on in measures of economic progress or success” which is true.  However, Krugman continues to misleadingly blame the free market and supposed lack of regulation for the economic chaos.

It was encouraging that he admitted that blowing economic bubbles is a mistake, especially considering he himself advocated creating a housing bubble as a way to alleviate the hangover from the dotcom bust.  But we can no longer afford to give prominent economists like Krugman a pass when they completely ignore the burden of taxation, monetary policy, and excessive regulation.

Afterall, Krugman is still scratching his head as to why “no” economists saw the housing bust coming.  How in the world did they miss it?  Actually many economists saw it coming a mile away, understood it perfectly, and explained it many times.  Policy makers would have been wise to heed the warnings of the Austrian economists, and must start listening to their teachings if they want solid progress in the future.  If not, the necessary correction is going to take a very long time. 

The Austrian free-market economists use common sense principles.  You cannot spend your way out of a recession.  You cannot regulate the economy into oblivion and expect it to function.  You cannot tax people and businesses to the point of near slavery and expect them to keep producing.  You cannot create an abundance of money out of thin air without making all that paper worthless.  The government cannot make up for rising unemployment by just hiring all the out of work people to be bureaucrats or send them unemployment checks forever.  You cannot live beyond your means indefinitely.  The economy must actually produce something others are willing to buy.   Government growth is the opposite of all these things.

Bureaucrats are loathe to face these unpleasant, but obvious realities.  It is much more appealing to wave their magic wand of regulation and public spending and divert blame elsewhere.  It is time to be honest about our problems.

The tragic reality is that this fatally flawed, but widely accepted, economic school of thought called Keynesianism has made our country more socialist than capitalist.  While the private sector in the last ten years has experienced a roller coaster of booms and busts and ended up, nominally, about where we started in 2000, government has been steadily growing, because Keynesians told politicians they could get away with a tax, spend and inflate policy.  They even encouraged it!  But we cannot survive much longer if government is our only growth industry.

As for a lack of regulation, the last decade saw the enactment of the Sarbanes-Oxley Act, the largest piece of financial regulatory legislation in years.  This act failed to prevent abuses like those perpetrated by Bernie Madoff, and it is widely acknowledged that the new regulations contributed heavily not only to the lack of real growth, but also to many businesses going overseas.

Americans have been working hard, and Krugman rightly points out that they are getting nowhere.  Government is expanding steadily and keeping us at less than zero growth when inflation is factored in.  Krugman seems pretty disappointed with zero, but if we continue to listen to Keynesians in the next decade instead of those who tell us the truth, zero will start to look pretty good.  The end result of destroying the currency is the wiping out of the middle class.  Preventing that from happening should be our top economic priority.

 Article by Ron Paul