Category Archives: Economics

Free market economics is like streets with no traffic signs

Most “economists” never mention the second source of money when they fear monger about government debt and deficits. One particularly nonsense post at http://www.learnliberty.org states that when Governments cut spending, economic activity goes up. He cites a couple of examples, … Continue reading

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Tony Robbins promoting the debt myth

It is frustrating to see someone like Tony Robbins, with such a big audience, spend 20 minutes fear mongering about an imaginary problem – that of the U.S. government’s debt. Of course Tony Robbins isn’t alone.  Everyone believes the US Government has the … Continue reading

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Gov spending vs. private sector debt

There are two types of money creation.  The government spending money into the economy, and the private sector taking out loans.  The 20 to 30 year boom we just experienced was due to a combination of both government spending (which … Continue reading

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Job Creator myth

If you lower taxes on the rich, or on big corporations, they will create jobs. Or will they? The talking point is that taxes are too high, and if lowered businesses would start to hire.  I guess the other talking point … Continue reading

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Financial Services Modernization Act

To read the name of the Act 12 years later you clearly know the outcome.  The “Financial Services Modernization Act” of 1999 did exactly what we didn’t need to do…. “modernize” financial services. By 2007 the financial system was crumbling, … Continue reading

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Fiat is bad, gold is good. Or is it

It pains me to see Austrian economic followers repeating the same tired arguments over and over.  Now they are trying to get in on Occupy Wall Street as evidenced by tons of comments on every article I’ve read, and quite … Continue reading

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How you owe China, B

Myths we all believe in – “how you owe China B” and “how do I got to balance my checkbook and you don’t?” Everyone seems to “like” this video on Facebook. My response: I “don’t like” because this perpetuates economic … Continue reading

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How our monetary system really works

Cullen Roche at PragCap.com has been my teacher on how our monetary system really works.  The school of economic thought is called MMT or Modern Monetary Theory.  I’ve written on the topic, but below is a long comment within one … Continue reading

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This is not a banking crisis

I ran across a PragCap.com article from 2010 describing the real economic crisis we have been experiencing.  Funny that the banks were bailed out when this article so eloquenty makes the case that it is a consumer crisis: When the housing … Continue reading

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The Federal Reserve causes bubbles

The Federal Reserve note only can’t pull us out of this mess, but they caused it.  From John Hussman’s weekly market commentary on Sept 5th: At the point our nation recognizes that the pattern of repeated bubbles, crashes, and misallocation of … Continue reading

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