On a sunny beach in Sydney, Australia, reading a not-so-sunny, book -- End the Fed, by Ron Paul. Ron Paul, the Texan Congressman, is a proponent of putting an end the Federal Reserve Bank -- the "Fed." The Fed has the ability to print money without the gold backing. This causes inflation. Ron Paul also has many more reasons other than ending inflation for eliminating the Fed.
(I'm in Australia for a 10-day visit. Saturday was beautiful, but Sunday morning the Surf Lifesavers cleared the beach for potential tsunami waves a result of the Chilean earthquake, and then it started to rain.)
Other authors he recommends -- John Mauldin and Richard Russell, editor of Dow Theory Letters. Dow theory is -- and I looked this up at Answers.com -- a theory which says the market is in an upward trend if one of its averages (industrial or transportation) advances above a previous important high, it is accompanied or followed by a similar advance in the other. The theory also says that when both averages dip below previous important lows, it's regarded as an indicator of a downward trend. The theory also says that when both averages dip below previous important lows, it's regarded as an indicator of a downward trend.
If he were to write a book -- it would be how mankind is destroying the world [financially].
Sunny day, not-so-sunny economic outlook.
3 Comments:
Interesting someone in Australia was reading this book--I don't think we've heard much over here from Ron Paul recently, although it seems the TEA Party Movement likes him.
hi Sonya, it's great that you are posting from Australia, hope to see more of what people are reading there, hope you are having a great trip too!
interesting blog with great trip,great picture,great book,great living. :D
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