Tag Archives: Economics

Ludwig von Mises: Come Back to Gold

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“In every instance of inflation or credit expansion there are two groups, that of the gainers and that of the losers. The creditors are the losers; it is their loss that is the profit of the debtors. But this is not all. The more fateful results of inflation derive from the fact that the rise in prices and wages which it causes occurs at different times and in different measure for various kinds of commodities and labor. Some classes of prices and wages rise more quickly and to a higher level than others. While inflation is under way, some people enjoy the benefit of higher prices on the goods and services they sell, while the prices of goods and services they buy have not yet risen at all or not to the same extent.”

https://mises.org/daily/6415/Come-Back-to-Gold

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Central Planning by Central Bankers

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“The agency that controls monetary policy for the United States has an unlimited amount of money to buy support, compliance, or least silence within that segment of professionally trained economists that specializes in money and banking. The Federal Reserve gets to keep all the money that it wants for operations. It has to turn back over to the Treasury Department any money that is not used for operations, but it does not answer to Congress or the Treasury with respect to how it spends its money. This means that the Federal Reserve has essentially unlimited funds available to buy off those critics who might challenge Federal Reserve policy.”

http://www.garynorth.com/public/12584.cfm

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Niall Ferguson: Networks and Hierarchies

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“The near-autarkic, commanding and controlling states that emerged from the Depression, World War II, and the early Cold War exist only as pale shadows of their former selves. Today, the combination of technological innovation and international economic integration has created entirely new forms of organization—vast, privately owned networks—that were scarcely dreamt of by Keynes and Kennan. Are these new networks really emancipating us from the tyranny of the hierarchical empire-states? Or will the hierarchies ultimately take over the networks as they did a century ago, in 1914, successfully subordinating them to the priorities of the national security state?”

http://www.the-american-interest.com/articles/2014/06/09/networks-and-hierarchies/

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Private Cities 101

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“Proprietary communities offer people a way to get rich by providing public goods. Public goods affect the value of the land on which they are provided. A classic example is schools. Good schools can increase land value by thousands—if not tens of thousands—of dollars. Similarly, police, roads, parks, and sanitation tend to raise land values. Because a proprietor or developer’s income depends on the value of the land he is renting out, he has incentives to provide public goods as part of his total offering.  The two closest examples of proprietary cities are Letchworth and Welwyn, small cities founded by Ebenezer Howard on Georgist principles before being nationalized after World War II.”

http://www.fee.org/the_freeman/detail/private-cities-101

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Roger Ver: Why Bitcoin is Important for the World

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“‘Why Bitcoin is Important for the World’ by Memorydealers KK Bitcoin evangelist Roger Ver for Coin Congress 2014.”

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Falling Real Yields: A Buy Signal for Gold

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“It’s not only Treasury yields that are falling; nominal interest rates are in free-fall around the world:  German bunds yield just 1.4 percent and French government bond yields fell to 1.65 percent — the lowest level since 1746!  Two of Europe’s most troubled PIIGS, Spain and Italy, also have witnessed record low bond yields of 2.6 percent and 2.76 percent, respectively.   Yield spreads on emerging market Tdebt and junk bonds compared with Treasuries are likewise sinking toward new lows.  his compression in nominal yields around the global has important implications for investors and could prove very bullish for certain asset classes. Case in point: Gold.”

http://www.moneyandmarkets.com/falling-real-yields-a-buy-signal-for-gold-62120

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No Containment in U.S. Health Costs

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“One potential cause for the spike in health care spending was the influx of insured patients due to the rollout of health care exchanges under the Affordable Care Act (ACA). Of those who enrolled through the exchanges, 6.7 million were eligible for Medicaid coverage. Many of them would be receiving care through managed Medicaid programs, which are typically operated by private insurers under contract through the states. That could create a significant spike in spending since most of the insurers operating those plans are paid per patient, per month, regardless of whether or not the patient is actually seen by a health care provider.”

http://www.investingdaily.com/20524/no-containment-in-health-costs-2/

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Bill Bonner: The Japanese Will Learn to Tango

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“For nearly a quarter century, Japan’s diligent savers have funded its government deficits. Now, the savers are retiring. They need their money back. At the same time, Japan’s trade surplus is disappearing. Where will the money come to keep the lights on?  Nowhere. Already, there are days when scarcely a single buyer steps up to buy Japanese bonds. The central bank of Japan takes up the slack. And as people get older (spending their savings rather than adding to them) and as the country’s current account surplus disappears (Japan is not the export powerhouse it once was), more slack appears.  The Bank of Japan will come to the rescue, of course.”

http://www.bonnerandpartners.com/the-japanese-will-learn-to-tango/

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‘I’ve been priced out of downtown Detroit’

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“Amid efforts to revitalize Detroit’s downtown, some residents are finding they can no longer afford to live there.  One program, called Live Downtown, has attracted as many as 15,000 new residents to the downtown area, according to the mayor’s office.  Under the program, local companies, including Quicken Loans and Blue Cross Blue Shield, give employees $20,000 loans that will be completely forgiven if they buy and stay in a home downtown for five years. Renters there receive $2,500 their first year and $1,000 the second.  The newcomers bring with them money and much needed tax revenue. But they are also causing housing prices to skyrocket.”

http://www.clickondetroit.com/money/I-ve-been-priced-out-of-downtown-Detroit/26182568

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Teen Unemployment In Major U.S. Cities Tops 50%

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“Old timers often say that the young people in the U.S. today don’t have the work ethic of their predecessors. This may be true, but is this perceived weakness a symptom of a greater problem?  Has the opportunity for many young people to find employment diminished, and thus made it harder for them to learn the necessary work ethic on the job?  Before we try to answer that question, let’s examine some evidence from a new analysis by the Employment Policy Institute (EPI) that shows unemployment among teens without a high school diploma is greater than 50% in two very large cities.”

http://lionsofliberty.com/2014/06/03/teen-unemployment-in-major-u-s-cities-tops-50/

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