Book Review of: Dice Have No Memory

Big Bets & Bad Economic from Paris to the Pampas

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Reviewer: Mark Lamendola, author of over 6,000 articles.

If it bothers you that millions of Americans have lost their jobs in the past couple of years, consider this book essential reading. You can consider it essential reading for several other reasons, too. For example, if you care about the money you work so hard to earn.

While alleged "economists" spew forth lies, logical fallacies, and utter nonsense, it's refreshing to read dead-accurate information on the actual economy (such that it is). The vast majority of Americans, disinformed by the mudstream media, are blithely unaware of why the economy is in the mess that it's in. Which is why the mess just keeps getting worse.

Enter Bill Bonner. Here is a man who has worked diligently for many years to debrainwash his fellow citizens. His daily column, "The Daily Reckoning" brings readers astute observations based on verifiable facts and logic.

This book is a collection of selected The Daily Reckoning letters (Bonner calls each daily writing a letter, and often addresses the reader directly), organized by theme. It consists of ten chapters occupying 315 pages. It's by no means a comprehensive compilation of the daily letters, but it is an informative one.

The book is easy to read, because Bonner writes in a clear and compelling manner. He's also fairly masterful with the sarcastic humor, making for some enjoyable reading. But don't confuse "easy to read" with "dumbed down." This book, like The Daily Reckoning, is for people who want to think rather than be mere automatons.

If you convince a few friends to buy a copy, you can have dinner over some lively discussions. Bonner provide plenty of fodder for that, along with solid information for people who are sick and tired of being shafted, robbed, and defrauded.

Why this book is important

This book comes at a time when a clear voice is needed to rise above the lies and insanity. The insanity is that the federal government has accelerated the failed economic policies that drain capital from the productive economy, with immensely damaging consequences. These polices are based on the idea that you can raise the level of a lake by draining the water out. Similarly, the federal government claims it can raise the level of the economy by draining the capital out.

This idea is even worse than the "something for nothing" philosophy that dominates the minds of normal morons. Today, we have uber-morons (in the employ of criminals) taking this stupidity to another level entirely. They are doing that with things like the Porkulus Package--which predictably stimulated the loss of millions of jobs and merely deepened an already bad economic depression.

This insanity/stupidity/theft has not abated, despite its devastating consequences. It is, however, compounded by the currency devaluation conducted by the Federal Reserve (which isn't federal and does not reserve anything). The Federal Reserve is often mentioned in less than glowing terms in The Daily Reckoning letters. This is as it should be, when you consider what the Federal Reserve does. It steals. One way it robs us is by devaluing the currency. Another way it robs us is by giving us debt in return for wealth.

If you were to evaluate the Federal Reserve in relation to its stated goals or the reasons for its creation, you find it not only fails spectacularly, but does the exact opposite of those stated goals and reasons. Yet, the mudstream media prattle on about how "..the Fed is fighting inflation" or "injecting liquidity" or some other such nonsense.

Bonner's readers understand what actually is happening. That understanding, if spread widely enough, would be a game-changer. That is, having enough correctly-informed citizens would mean the lies and deceptions that perpetuate the fraud would no longer work. And thus, a decades-long crime spree would come to an end. We need more Bonner readers!

We also need people to reject the fiction writers who pose as experts in economics and politics. One such writer annoys me immensely. In another review, I referred to "Thomas 'reality is not an option' Friedman," who produces factually wrong, logic-devoid drivel for the New York Times (well, at least he's among peers there) and is often quoted in other publications. I was pleased with Bill Bonner's take on some of Friedman's idiotic commentary.

We all know that millions of Americans lost their jobs since the beginning of the Obama misadministration. This is not mere coincidence. Nor was it mere coincidence that the 16-year agony known as "the Clinton/Bush years" produced plenty of job loss. Predictably, too.

A key reason for the economic devastation of these three failed presidencies is the runaway spending (stealing, actually) conducted by the Federal government. This is not pay for services. It's wealth transfer from the regular peasants to the ultra-wealthy, a reverse Robin Hood on a colossal scale.

This kind of spending destroys jobs because it necessarily causes a misallocation of scarce resources from productive uses to unproductive ones. It simply is not true that raising overhead produces prosperity. Any small business owner will tell you that keeping overhead down is essential to keeping the business healthy. Yet, the overhead of the USA as a nation has grown by orders of magnitude.

What's truly amazing about this is at least 80% of the spending is illegal. That's right. Read Article 1 of the Constitution and you'll understand why. We do not have a lawful government. We have an unlawful plunderment.

Another key reason for this economic devastation is the stealing done by the Federal Reserve, an organization that controls our currency but is never audited. During Alan Greenspan's 18-year reign of error, the dollar lost half its value. Think about that. Everything valued in dollars also lost half its value.

You paid on a home for 18 years? Greenspan essentially took a chainsaw right down the middle of it. If a band of burglars looted half the homes in a city (removing the homes and their contents), would that be a crime? Certainly. But the Federal Reserve does the same thing with impunity and it's called "managing the economy." Why do people bother with burglar alarms?

Ben Bernanke has since topped this rate of theft. And yet he is a free man. Go figure.

If you want to be informed rather than disinformed, go to the Daily Reckoning Website and sign up for the free Daily Reckoning letter. Consider buying several copies of this book and giving them to people who are open to actually understanding reality. They can read the book and become informed citizens, rather than disinformed sheeple. With knowledge comes power.

If enough people stop drinking the Kool-Aid and instead nurture their minds with real information, then we may end this criminal situation and usher in a law-abiding government and a healthy, prosperous America for future generations. Right now, it's headed for the intensive care unit.