Category Archives: economics
a parable of inflation in war-time
By Fritz Machlup: A dealer bought a thousand tons of copper. He sold them, as prices rose, with considerable profit. He consumed only half of the profit and saved the other half. He invested again in copper and got several hundred tons. Prices rose and rose. The dealer’s profit was enormous; he could afford to [...]
Posted in economics Tagged copper, fritz machlup, inflation, review of economic statistics, war 1 Comment
debt = gdp
Though estimating the true value of both the national debt and the GDP (gross domestic product) is difficult, President Obama has come out and announced the coming of an event that we who watch economic history in the making have seen for some time. President Obama has endorsed a projection which estimates that this is [...]
alan greenspan supports the gold standard
Yes. You have that right. Alan Greenspan supports a return to a gold standard for the United States. True story. Even the guy who used to run the Fed knows it’s a bankrupt system. Interestingly, Ron Paul’s Revolution: A Manifesto claimed that Alan Greenspan was a closet gold man during his Fed days. Now it [...]
words are too sticky: capitalism and acts 2
That is, there seems to be a sore lack of words that mean only one specific narrowly defined thing. Take, for example, the word capitalist. I consider myself a super-hardcore capitalist, but I often fail to mention that I am using capitalist in a very narrow sense. I mean capitalist in the governmental sense: someone [...]
Also posted in bible, culture, history, justice, language, passage interpretation Tagged acts 2, capitalism, orwell 1 Comment
i’m going on a hopping spree
Not really. I mean that I’m going to read a whole bunch of things by Hans Hermann Hoppe. I recently wrote a very Hoppe-critical (and perhaps overdramatic) post about what I consider to be Hoppe’s major deviation from libertarianism, and the discussion has lead me to want to study more. To be fair to the [...]
fed on defense
Economists supporting the continuation of fed inflationary policy repeatedly give no concrete answers when asked questions, while pretending not to understand questions being asked and scoffing at legitimate questions. But the most fun of all is seeing how defensive they all are now (video after the jump): Related Posts:Republican debate notes, pt. 1: slimy economics [...]
gold at 1423.27
And silver is past $30.00/ounce. This is just the beginning of the bleeding, however, as silver is highly undervalued. At current gold prices, silver should be at between $80 and $141 dollars to maintain the historical gold-silver ratio. But if gold were at a more normal market price, say $8,000, we’d be looking for silver [...]
i support child labor
because I find the starvation of children repulsive. So does Rod Rojas. Related Posts:A Practical Program of Disenfranchisement: A 10-Step Plan to Save American Democracy by Dismantling ItRepublican debate, part 2: Newt Gingrich spread slime and Huntsman spread vaguenesstoward a glossary of fontwords.comon child labor laws and the blues
a foretaste of things to come
I’m sorry. That was redundant. Great Britain, a nation way less broke than us (they owe 18 months of their tax receipts to our 76 months of ours), is doing the things that must be done to balance things. Related Posts:Uncle Sam doesn’t need more soldiers.A Practical Program of Disenfranchisement: A 10-Step Plan to Save [...]
Also posted in bloated government Tagged deficits, fractional reserve spending, great britain, local government, pensions, tax receipts, unemployment, united states, welfare spending Leave a comment
thoughts on the economics of oil and the principle of endless recalibration