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Tag Archives: News

Paul Krugman’s One-Man War on Science

When David Card was recently awarded the Nobel Memorial Price in Economic Science (along with two other economists), I figured Paul Krugman would weight in, since Card, along with the late Alan Krueger, authored an economic study almost thirty years ago that allegedly debunked standard economic theory on the effects of a binding minimum wage. Krugman did not disappoint. As is his M.O., Krugman cherry-picked his information and then went on to claim that the Card-Krueger studies, along with...

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America Is Now a Kleptocrapocracy

I hope everyone here is hungry because the banquet of consequences is being served. I’ve coined a new portmanteau word to describe America’s descent: kleptocrapocracy, a union of kleptocracy (a nation ruled by kleptocrats) and crapocracy, a nation drowning in a moral sewer of rampant self-interest in which the focus is cloaking all the skims, scams, rackets and bezzles in some virtuous-sounding garb, a nation choking on low-quality junk ceaselessly hawked by robocalls, spam, phishing and Big...

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Sprott Gold Report: It’s Show Time for the Fed

BY John Hathaway | Monday, October 18, 2021 Despite lackluster third quarter and year-to-date performance for gold, the fundamental backdrop for precious metals and related mining share prices continues to strengthen in our opinion. Here’s why we believe this:  Inflation has become increasingly problematic and more persistent than previous sanguine assessments by Federal Reserve Board (Fed) Chairman Jay Powell and other Fed officials.1 Real interest rates remain deeply negative, a...

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The Monetization of Gold

For those who deny that gold is the real money, we dare you to read the following article published by Bloomberg on October 20, 2021: “Venezuelans Break Off Flakes of Gold to Pay for Meals, Haircuts” by Alex Vasquez and Ezra Fieser. https://www.bloomberg.com/news/articles/2021-10-20/venezuelans-break-off-flakes-of-gold-to-pay-for-meals-haircuts

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Is Silver Ready For Prime Time?

A Pfennig For Your Thoughts October 20, 2021 * Currencies & metals gain VS the dollar On Tuesday * Russia to continue to eliminate their use of the dollar…  Good day… And a Wonderful Wednesday to you! Well, how about that comeback for the Dodgers yesterday? I, like many Dodger fans that left early, thought that the game was over, but it wasn’t! I don’t have a dog in the hunt here, and actually would prefer the Braves won the series, because the Dodgers won it last year, so I’m not...

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How America’s Emerging Revolution is Similar to Cuba’s

Richard Maybury and Dr. Roger Moss return this week on the radio program. When President Eisenhower was leaving the Presidency, he warned Americans of the emerging “military industrial complex” (MIC) that would destroy our democratic form of government. Sadly, it seems the President was right as a massive bureaucracy now makes rules that have nothing to do with the will of the electorate. A move away from power by the people to power of the government over the electorate to dictate every area...

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GDP Tells Us Little about the Health of an Economy

The government and the mainstream media’s favorite economic statistic is gross domestic product (GDP). If GDP goes up, then the economy is doing well. If GDP shrinks, then the economy is doing poorly, or so it is assumed. It all seems so simple. But GDP tells us no such thing. The economy may be doing poorly when GDP rises. Likewise, the economy may be doing well when GDP falls. How can this be? Although the official statistical components that make up GDP are rather complicated, the big...

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The Dangers of “Should Be”

By: Robert Aro In this world, there exists a multitude of supranational organizations, agencies and committees which, may or may not, work in concert with each other for the purpose of central planning. Countless bureaucrat salaries are funded with the public’s money or debt, paid not to produce goods or services that have a market price; instead the goal is to rearrange society based on the notion that they possess a calculation method or some higher knowledge allowing them to know how...

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Joe Salerno on Rothbard’s History of Economic Thought

We wrap up our look at Murray Rothbard’s sprawling two volume An Austrian Perspective on the History of Economic Thought with Dr. Joe Salerno, Rothbard’s friend and colleague. This show covers the second volume exclusively, starting with the Frenchman JB Say and working through Ricardo, the British Currency School, John Stuart Mill, and finally Karl Marx. Salerno has penetrating insights about all of these thinkers, from Say’s understanding of production to Ricardo’s erroneous systemization...

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Review: Radical Uncertainty: Decision-Making Beyond the Numbers

Radical Uncertainty: Decision-Making Beyond the NumbersJohn Kay and Mervyn KingNew York: Norton, 2020, xvi + 528 pp. David Gordon ([email protected]) is a senior fellow at the Mises Institute and editor of the Journal of Libertarian Studies. Kay and King are not Austrians, but in this important book, they lend aid and comfort to several key points of Austrian economics. Kay teaches economics at Oxford, and King, who was formerly Governor of the Bank of England, teaches at NYU. (King in an...

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