A good recap (60 minutes) on the state of economy in US and PM talk. Waited till 2.00am to watch live event, only to find out later recording available..hahaha Btw, anyone follow much of casey report? http://www.americandebtcrisis.com/event.php
Im not sure about that it seems to be mostly people from the one company talking between themselves that have a subscription service. .some good info nonetheless thanks perak
What annoys me about these kind of gold and silver pundits on Youtube etc. is the fact that: 1) They adhere to the Austrian School of economics 2) They have an imperfect understanding of it and other schools of economics in general I can't recall how many times I have seen an "Austrian" bag out Keynesianism and Marxism without fully understanding what they are. Apparently, printing money is "Keynesian" and Medicare is "Marxism". Just so you have an understanding, the people that follow Austrian economics are the same kind of people that are likely to be followers of Ayn Rand. I knew immediately when I understood the tone of this presentation that these talking heads had nothing new to add to the debate that hasn't already been said. I'm not sitting for sixty minutes to hear what I already know to be true, albeit for different reasons than these people believe. To an Austrian economist or a follower, they are concerned with: a) Interest rates. Interest rates must be able to freely float on the market. Any attempt to engineer interest rates is pure evil. b) "Honest money". That is, they want a gold standard. So the problem as they see it is that governments and central banks are screwing around with interest rates while they print too much money. The result? Hyperinflation. That's what Mises said. So everything will be hunky-dory if we clear the debt, have a free market, with a free interest rate and honest money. I don't agree with this, because the problems run much deeper than this very simplistic view.
Each theory have their advantage and also limits. Saying in my country (Loosely Translated) "There's one advantage and not twice over" Keynesian way of keep the market going no matter what clashes with Austrian which states that the market must correct itself through crashes and recession. IMO, there's a cycle for everything, Eg: disaster would only follow if one likes the day time, keep day time running through whatever means and banish the night away. Night have their purpose too. I agree with you, no matter how great or how bad the system is, it's based on humans. If we control the our tendencies and weakness, this World greatest Firework to come might not have to happen. Eg: Tally stick system by King Henry-usage of "sticks" as currency-a piece of firewood can be used...
It must be just a coincidence that Austrian Economics is the only school that accurately explains and predicts events in the business cycle
I agree. The keynesian pundits have been in control of the central banks for years now. Some success they've shown. What is it they say about the definition of 'insanity'? Earthjade and his camp would like to make it much more complicated than it is. That must be their excuse for not understanding it.
Go sit under an apple tree, for a simplistic view of gravity. The simpleton however waits a long time under a gum tree whilst the kookaburra laughs at him. Such is the view from the deflationists camp(site).
