Tag: fiat money

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Economics Political Video Link

Rothbard’s America’s Great Depression, Chapter Twelve

Chapter 12 is the wrap-up, about the last few months of Hoover’s term and Hoover’s unwarranted confidence in his actions. Along for the ride are some overall statistics from the start of the depression until he left office as well. There are also some ominous references to FDR’s incoming New Deal.

See my show notes here.

This video is available on Odysee, BitChute, and YouTube.

References

Saloutos, Agricultural Discontent in the Middle West…
https://archive.org/details/agriculturaldisc00salorich

Fisher, 100 Percent Money
https://cdn.mises.org/100%20Percent%20Money_Fisher.pdf

Jones, Fifty Billion Dollars…
https://books.google.com/books/about/Fifty_Billion_Dollars.html?id=Ql8UAQAAMAAJ

https://archive.org/details/fiftybilliondoll0000jone

Clark, Central Banking Under the Federal Reserve System
https://fraser.stlouisfed.org/title/central-banking-federal-reserve-system-314

Anderson, Economics and the Public Welfare
https://archive.org/details/economicspublicw0000ande/page/n3/mode/2up

Willis, The Banking Situation
https://www.degruyter.com/document/doi/10.7312/will93128-fm/pdf

Angly, Oh Yeah?
https://books.google.com/books/about/Oh_Yeah.html?id=rTWMAAAACAAJ

Kent Cooper, Kent Cooper and the Associated Press
https://archive.org/details/kentcooperassoci0000coop

Ayres, The Chief Cause of This and Other Depressions
https://books.google.com/books/about/The_Chief_Cause_of_This_and_Other_Depres.html?id=DpVszwEACAAJ

Phillips, Banking and the Business Cycle
https://mises.org/library/book/banking-and-business-cycle

Davies, Depression and Recovery
https://archive.org/details/depressionrecove0000dale

https://books.google.com/books/about/Depression_and_Recovery.html?id=E8ovAAAAYAAJ

National Industrial Conference Board, Salary and Wage Policy in the Depression
https://archive.org/details/salarywagepolicy0000unse/page/n3/mode/2up

Levinson, Unionism, Wage Trends, and Income Distribution
https://books.google.com/books/about/Unionism_Wage_Trends_and_Income_Distribu.html?id=oamMAAAAIAAJ

Morris, The AFL in the 1920s: A Strategy of Defense
https://www.jstor.org/stable/2519356

Monthly Labor Review 35 (3)
https://fraser.stlouisfed.org/title/monthly-labor-review-6130/september-1932-608220?page=25

Monthly Labor Review 35 (4)
https://fraser.stlouisfed.org/title/monthly-labor-review-6130/october-1932-608221?page=8

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Economics Video Link

Inflation: The Econometric Mirage

Just some quick thoughts on why monetary inflation might look “good” from an econometric perspective, while hiding the negative effects.

The shortest argument seems to be that the “positive GDP” effects of monetary inflation hit immediately, while the “negative GDP” effects hit later. That allows politicians and economists to blame other factors for the downturn.

It’s also worth remembering that GDP makes the mistake of assuming a dollar spent by the government is equivalent to a dollar spent by the private sector, as far as satisfying the actual needs and wants of people.

I’ve handled that fallacy in this article at the Mises Wire.

This video is available on Odysee, BitChute, and YouTube.

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Economics Political Video Link

Rothbard’s America’s Great Depression, Chapter 11, part 2

Most of this part of the chapter is devoted to the efforts and agitation to reflate prices up to their pre-depression levels.

Fortunately, quite a few of these efforts fizzled out, but enough made it into official policy that the economy suffered another blow at the end of the year, after a small uptick.

Continue reading “Rothbard’s America’s Great Depression, Chapter 11, part 2″
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Economics Political Satire Video Link

Why Krugman Hates MMT

I had a fun thought the other day: Why is it that Keynesian shills like Paul Krugman usually don’t like Modern Monetary Theory?

After all, both of them promote the same irresponsible and destructive policies of massive government spending and interference with the market…

Continue reading “Why Krugman Hates MMT”
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Economics Political Video Link

Murphy and Newman on MMT

Very quick post here, but as a part of Mises University, the great Bob Murphy and Jonathan Newman did a fantastic talk about Modern Monetary Theory and some of the sticking points people walk into when they try to argue against it.

At the end of the talk, Dr. Newman mentions the book “The Theory of Idle Resources” by William H. Hutt. What he didn’t say is that the whole book is available free at the Mises Institute website.

Get your copy here!

Breaking down the fallacies and dangerous conclusions of MMT is one of the best things you can do today!

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Economics Essay Political Video Link

MMT: Feeding the Economically Inferior Machine

I am pleased to say that the Mises Institute has published another one of my essays! This time, it’s an essay that organizes and crystallizes my thoughts about Modern Monetary Theory, specifically the negative effects of moving goods from the private sphere to the public sphere.

Find it at the Mises Institute website here.

Continue reading “MMT: Feeding the Economically Inferior Machine”
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Economics Video Link

Rothbard’s America’s Great Depression, Chapter Two

This video covers chapter two, including an in-depth explanation of Figure 1 on page 48, with additional visual elements to help make it easier to understand.

Continue reading “Rothbard’s America’s Great Depression, Chapter Two”
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Economics Political Video Link

MMT Fatal Flaws: Why Feed an Inferior Machine?

I’ve been reading a bit about Modern Monetary Theory lately, and one argument I’ve seen a few times is that inflation and taxation are merely methods to transfer goods from the “private sphere” to the “public sphere.”

Continue reading “MMT Fatal Flaws: Why Feed an Inferior Machine?”
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Economics Essay

Corporatism v. Consumer Sovereignty

Section 4 of Chapter 15 of Mises’s Human Action is called “The Sovereignty of the Consumers.” Mises talks about the unhampered market economy and how that democracy, in which “every penny gives a right to cast a ballot,” might be more democratic than any government could ever hope to be. This passage got me thinking about these concepts, and how the state impedes them.

Continue reading “Corporatism v. Consumer Sovereignty”
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Economics Essay Video Link

Bad Banks and Skyscrapers

(Also available on Bitchute)

Doug French wrote an article last week called “Bank CEOs Have Their Heads in the Clouds” and he talks about how all of the bank CEOs are very optimistic, but he notes that their real estate agents are optimistic, and so are their loan officers.

Continue reading “Bad Banks and Skyscrapers”