Showing results for tag "austrian economics"
Recently Paul Krugman revived his assertion that the US economy could benefit dramatically if the government were to spend massively on a defense program to prepare for an alien invasion of the earth.
Fed Chairman Ben Bernanke famously gave a speech in 2002 suggesting that if there is deflation, it may be cured simply by dumping new currency from helicopters. The comment was so unnerving that much of the rest of the speech failed to generate much discussion, yet, in it, Mr. Bernanke revealed other points from his philosophy on dealing with deflation that most certainly deserved review.
Can Keynes' followers recognize the fundamental truth of another insightful culture commentator's observation?
A basic assumption, by all socialists, is that equality can only be achieved through force. To anyone of a libertarian bent, who may well favour equality as a general concept, the term “forced equality” raises the hackles, as it flies in the face of the very spirit of equality – that of voluntary acceptance of the other person as an equal.
There has been much talk about the coming collapse of the US economy, but every effort to pick a date when such an event will happen has so far been wrong. But even though the timing of many predictions is off, the key message to remember is that they DO eventually happen. For this reason, it’s of great importance that we prepare ourselves as soon as possible, both economically and (if we are located in an exposed country) by creating a back door for ourselves and our families. Creating a back door can be a slow process and those who haven't yet begun would be well-advised to start now. After all, you can only pull so many dead rabbits from a hat…
For many years, we have been predicting that the die has been cast for economic and political cataclysm for the US economy and, by extension, that of the first world. Not surprisingly, the reaction by most others over the years is that the sun is still shining and that only a "Chicken Little" would be predicting a major storm. During this period, most people have said, "We'll deal with it if it comes and not before."
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