Tag Archives: Economics

How the Paper Money Experiment Will End

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“We are now in a situation that looks like a dead end for the paper money system. After the last cycle, governments have bailed out malinvestments in the private sector and boosted their public welfare spending. Deficits and debts skyrocketed. Central banks printed money to buy public debts (or accept them as collateral in loans to the banking system) in unprecedented amounts. Will money printing be a constant with interest rates close to zero until people lose their confidence in the paper currencies? Can the paper money system be maintained or will we necessarily get a hyperinflation sooner or later?  There are at least seven possibilities.”

http://www.mises.org/daily/6609/How-the-Paper-Money-Experiment-Will-End

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Barbados PM: Central bank ‘indulgence’ a threat to economic stability

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“Former Barbados prime minister Owen Arthur said that the Central Bank had printed BDS$370 million to purchase Government Treasury Bills, which had caused the country’s foreign exchange reserves to plunge.  ‘The printing of money on this scale to accommodate government’s fiscal deficit is the chief factor that has triggered the dramatic plunge downward in the country’s foreign exchange reserves.  If this plunge downward is not immediately checked, the economic affairs of Barbados will enter a new and very dangerous territory,’ he warned, reminding of the economic and social problems of Guyana and Jamaica as a result of excessive increases in money supply and inflation.”

http://www.caribbean360.com/index.php/news/barbados_news/1086499.html

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Paul Craig Roberts: More Misleading Official Employment Statistics

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“How it is possible for the economy to have been in recovery since June 2009 (according to the National Bureau of Economic Research) and there are 1,277,000 fewer jobs today than existed six years ago prior to the recession?  How has real Gross Domestic Product recovered when jobs and real consumer incomes have not?  These are among the many questions that go unasked and unanswered.  Statistician John Williams says that the economic recovery is a statistical illusion created by deflating nominal GDP with an understated measure of inflation.”

http://www.paulcraigroberts.org/2013/12/10/misleading-official-employment-statistics-paul-craig-roberts/

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Bitcoin: Objections and Replies

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“Erik Voorhees joins Tom to discuss recent developments surrounding Bitcoin, and replies to objections to Bitcoin. Check out Erik’s article ‘Bitcoin: The Libertarian Introduction,’ and follow him on Twitter.”

http://www.schiffradio.com/pg/jsp/verticals/archive.jsp?dispid=310&pid=63335

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FT ‘Explains’ the Decline and Fall of the West

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“The FT article contains a threat. Here it is: ‘Another decade of western economic malaise – or, God forbid, another financial crisis – is likely to see more radical solutions and politicians emerging.’ That’s how the article ends, and in our estimation the article was written to provide this conclusion. The whole idea of destabilizing the West is quite possibly to create enough chaos to offer globalist solutions. Part of the destabilization will be the implementation of false-flag political organizations and ‘fascist’ sociopolitical solutions that will be used to justify aggressive internationalism. This is the same playbook that was used – on a trial basis – in the 1930s and 1940s.”

http://www.thedailybell.com/news-analysis/34816/FT-Explains-the-Decline-and-Fall-of-the-West–Thanks/

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The Dialectical Pomposity of the Tapering Promotion

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“We might taper, he tells us, if the economy seems strong. We might not if the economy seems less strong.  Maybe we will, maybe we won’t.  And to ascertain the strength of the economy, Bullard and his noobs will parse notoriously unreliable government data. They will make decisions on how much money to print at what price. This is price fixing and price fixing never works. They will use the loony-tune statistics provided to them by the US government. Good luck. They will make determinations about the level of the price fix they shall levy based on these flawed numbers.  This is YOUR economy. This is YOUR money.”

http://www.thedailybell.com/news-analysis/34819/The-Dialectical-Pomposity-of-the-Tapering-Promotion/

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Is Bitcoin a Viable Currency?

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“We can’t know what the market will choose as a currency in the future, because it is entirely dependent on peoples’ values. We don’t even know if people will continue valuing U.S. dollars, much less bitcoins. But we do know that bitcoin possesses some of the fundamental properties that have made gold and silver successful currencies, and it even outperforms its competition in some categories.  It is no longer a question of whether or not people will accept bitcoins as a currency: They already do, and the community is growing. Will bitcoins continue to be valued in the future? Bitcoins certainly won’t rot, nor will the supply suffer from hyperinflation, but will these properties continue to be valued?”

http://www.fee.org/the_freeman/detail/is-bitcoin-a-viable-currency

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The Truth about Bitcoin and Alternative Currencies

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“Bitcoin has been making headlines for months. With the price fluctuating wildly, is it really a currency, or just a scam? To find out, we have to analyze its properties.  Gold and silver give us good examples of what properties make a sound currency, and bitcoins seem to measure up well. Will they ultimately outcompete the US dollar, gold, or silver? We can’t know, but with the Federal Reserve devaluing the dollar every day, it is only a matter of time before people start looking for an alternative currency.”

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70% of California’s Physicians Will Opt Out of ObamaCare

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“The estimate is that 70% of California’s physicians will not participate in the program. If accurate, this will create a nightmare for ObamaCare.  The physicians in California are paid at Medicaid rates — far below costs. The physicians say they will not do it.  Will 70% hold firm? No one knows. Will they be squeezed if they capitulate? Yes. Their practices will be put under price controls. Price controls produce shortages. Always.  The people of California are going to get a firsthand look at what price controls also always produce: non-price rationing. People will sit in full doctors’ offices. They will pay with their lost time. Others will find that no physician will accept them.”

http://teapartyeconomist.com/2013/12/09/70-californias-physicians-will-opt-obamacare/

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Revolutionary France’s Road to Hyperinflation

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“The current Federal Reserve strategy is apparently to wait for significant price inflation to show up in the consumer price index before tapering. Yet history tells us that you treat inflation like a sunburn. You don’t wait for your skin to turn red to take action. You protect yourself before leaving home. Once inflation really picks up steam, it becomes almost impossible to control as the politics and economics of the situation combine to make the urge to print irresistible.  The hyperinflation of 1790s France illustrates inflationary monetary policy becoming unmanageable in an environment of economic stagnation and debt, and in the face of special interests who benefit from, and demand, easy money.”

http://mises.org/daily/6584/

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