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Will Steve Forbes be the Tea Party Presidential Candidate in 2012?
I sat down with Forbes magazine publisher and perennial Republican presidential candidate, Steve Forbes, whose father, Malcolm, I knew from my journalism days in the seventies. He was there formally to promote his new book, Power Ambition Glory, but I couldn’t help but sense his loftier goals.
He says that the crash was a failure of government. It was caused by the Fed, which pursued a weak dollar policy, kept interest rates too low for too long, and printed too much money. Our central bank should pursue a strong dollar policy which will bring a revival of the credit markets. We have the most hard left president and congress in history, and they are on the cusp of getting what they want. Lifting the rules on upticks and naked shorting threw gasoline on the fire.
The rating agencies are a cartel we should get rid of. Let the free markets work. The stock market recovery last year came with the modification of mark-to-market rules which never should have been in force. George Bush betrayed the Republican party by abandoning its principles.
Steve has always championed the libertarian wing of his party, and has been the leading proponent of the flat income tax. Did I just hear the first campaign speech of the 2012 presidential election?
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"We have the most hard left president and congress in history, and they are on the cusp of getting what they want. Lifting the rules on upticks and naked shorting threw gasoline on the fire."
The most hard-left... I guess Obeezy's more hard than the Big Society... And that the objective of the "hard-left" is to deregulate financial markets...
The FORBES name = "Silverspoon"....
Not going to happen....
Also...a flat tax is not the proper tax structure....
There should be no income taxes period....
.....................................
Taxes should be broad based and progressive....
The most sensible tax would be a monthly basis point charge on cash account balances....
Those who have no money in an account pay nothing....Those with a balance pay something...
This structure combined with a 10% restriction on the size of the government versus economy ....WILL WORK....
Anything less is ...just that....
The current administration's foolish short term approaches will only make bad economics worse....
And the markets must be reconstructed for RETAIL....Banks should only be allowed to service RETAIL....
In addition the dollar should be "gold indexed"....
An interesting tax idea: http://www.apttax.com/
He'll never make it to that level. There are far better choices that will come before him, not the least of which are Ron Paul and Andrew Napolitano.
Anyhow, here's a good interview with Forbes: http://www.rightsidenews.com/2010082911476/us/politics-and-economics/ste...
Steve Forbes for President? Is this a serious post or has zerohedge started a comedy section.
Interesting.
It just so happens Steve Forbes is first on my "To The Guillotine !" list after Timmy, Larry and Benny...
When he was running for president the first time, a reporter asked him the following question, "Steve, I know you are for returning to a gold standard, and for absolutely prohibiting abortion. If you could accomplish only one as president, which would it be."
"Without hesitation, banning abortion."
More recently, he has shown himself not to be a free market advocate with his positions on mark-to-market (he prefers mark-to-fantasy) and shorting (he is in favor of government coercion here, where you would not be allowed to short unless there was an uptick--should there be a similar rule for buying--only permissible on a DOWNtick? Or does this "free marketer" think that the purpose of "free" markets is to only go up??)
Forbes is no free-marketer. Granted, he is a lot less bad than Obama or Bush, but in a field of real free market thinkers, he is a fascist and a theocrat by comparison.
Speaking of mark-to-market, the question is not even framed properly. Standard accounting has a Rule of Assets: all assets should be carried on the balance sheet at the LOWER of either acquisition price or current market. The corresponding rule that accounting ought to have: the Law of Liabilities: all liabilities should be carried on the balance sheet at the HIGHER of either acquisition or current market. This latter idea, by the way, is from Professor Antal E. Fekete, who has a lot more to say about this topic (and the destruction of capital caused by declining interest rates, such as what we have had in the US for the past 28 years!)
Nice work - sincerely - clarifying the essence of that interview for the ones among us who missed the real meaning, Bearster.
What magihegifundaturada forgot to mention is that the interview with SF was conducted entirely in Japanese, and conversations with Malcolm were always conducted entirely in fluent Mandarin.
If Steve Forbes or Obama wanted to go see Area 51, the same thing would happen as would happen to Medvedev...
http://www.cnn.com/video/#/video/us/2010/09/05/gps.browder.intv.cnn?hpt=C2
The President controls nothing. Trust me.
If he said he was going to investigate 9/11, open the Kennedy files, see Los Alamos, or anything else. He'd have an "accident".
Watch the video for the ghost of Christmas Future.
I say go for it. Austerity will be the rule of the day if he were to implement policy according to his beliefs. There would be revolution for sure. I'm in.
History, however, will prevail: He will be an impotent puppet just like the rest.