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Baraka_Guru · 07-30-2011, 07:03 AM

I severely doubt that Tea Partiers are indifferent or callous about the value of the dollar. Their obsession with gold I'm sure mirrors the obsessions of others with the metal: it's the investment of crisis.

That's why it's possible there's a gold bubble, there are a lot of people worried about crisis.

So what you have is a group of people who are essentially panicking over government spending, debt, and, in turn, the value of the dollar. This doesn't mean they've abandoned the dollar or hope to bank on their gold investment with the dollar's collapse. These people are merely trying to look out for themselves, which is pretty normal in trying times.

That said, I still think the Tea Party is out of touch with the average American.

Compared to the Tea Party, I don't think the average American is as

tax adverse;*
adverse to Keynesian economics;
adverse to the idea of "shared burden";
adverse to a balanced long-term deficit-reduction plan;** and
keen on deep cuts to entitlement spending.

The Tea Party, despite its size, remains a fringe group. I doubt they represent enough of the American public as a percentage to warrant infusing much of their ideas in fiscal planning.

As Americans pull out of a recession over the next several years, it will get much easier to budget for reduced deficits. A recession is a terrible time to insist on a balanced budget, especially with a recession as deep as this one.

Even Canada---with our balanced budget legislation---have been running deficits during this recession, and we've come out of it reasonably squeaky clean compared to most developed nations. Only now are the Conservatives (yes, that's right, we've had a conservative government for years now) working towards eliminating the deficit.

I've said this before: if you want an actual working example of fiscal conservatism, take a look at the Harper government. Hint: We've run surpluses year over year in the recent past (thanks mainly to the Liberals).

* G.O.P.'s No-Tax Stance Is Outside Political Mainstream - NYTimes.com
** People Support Higher Taxes to Reduce the Deficit by a 2-to-1 Margin | Capital Gains and Games

07-30-2011, 07:03 AM	#204 (permalink)
Baraka_Guru warrior bodhisattva Super Moderator Location: East-central Canada	I severely doubt that Tea Partiers are indifferent or callous about the value of the dollar. Their obsession with gold I'm sure mirrors the obsessions of others with the metal: it's the investment of crisis. That's why it's possible there's a gold bubble, there are a lot of people worried about crisis. So what you have is a group of people who are essentially panicking over government spending, debt, and, in turn, the value of the dollar. This doesn't mean they've abandoned the dollar or hope to bank on their gold investment with the dollar's collapse. These people are merely trying to look out for themselves, which is pretty normal in trying times. That said, I still think the Tea Party is out of touch with the average American. Compared to the Tea Party, I don't think the average American is as tax adverse;* adverse to Keynesian economics; adverse to the idea of "shared burden"; adverse to a balanced long-term deficit-reduction plan;** and keen on deep cuts to entitlement spending. The Tea Party, despite its size, remains a fringe group. I doubt they represent enough of the American public as a percentage to warrant infusing much of their ideas in fiscal planning. As Americans pull out of a recession over the next several years, it will get much easier to budget for reduced deficits. A recession is a terrible time to insist on a balanced budget, especially with a recession as deep as this one. Even Canada---with our balanced budget legislation---have been running deficits during this recession, and we've come out of it reasonably squeaky clean compared to most developed nations. Only now are the Conservatives (yes, that's right, we've had a conservative government for years now) working towards eliminating the deficit. I've said this before: if you want an actual working example of fiscal conservatism, take a look at the Harper government. Hint: We've run surpluses year over year in the recent past (thanks mainly to the Liberals). * G.O.P.'s No-Tax Stance Is Outside Political Mainstream - NYTimes.com ** People Support Higher Taxes to Reduce the Deficit by a 2-to-1 Margin \| Capital Gains and Games __________________ Knowing that death is certain and that the time of death is uncertain, what's the most important thing? —Bhikkhuni Pema Chödrön Humankind cannot bear very much reality. —From "Burnt Norton," Four Quartets (1936), T. S. Eliot Last edited by Baraka_Guru; 07-30-2011 at 07:48 AM..