What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation. ~Ludwig von Mises
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The fall of the United States?
Posted on Author Glaucon
From the Guardian: Decline and fall of the American Empire Key passage: “Let me put an alternative hypothesis. America in 2011 is Rome in 200AD or Britain on the eve of the first world war: an empire at the zenith of its power but with cracks beginning to show. The experience of both Rome and […]
Classic problem with left-wing economists
Posted on Author Sean Dempsey
This article from Slate does a very decent job at explaining how bad the economic situation is and will most likely remain so for the foreseeable future. Then near the end, the classic Keynesian slip, “That is not to say that there is nothing to be done, of course, or that the current state of […]
Children Surround Obama as he Further Diminishes Freedom, Just Like Hitler
Posted on Author Sean Dempsey
Let me justify why i posted this meme, before i’m too-badly blasted by my lefter-leaning friends. I usually despise the “Obama vs Hitler” juxtapositions as ridiculous and un-founded. So to clarify: I am NOT saying that President Obama is Hitler or that under his Presidency America will ever become a fascist, blood-hungry state. That’s lunacy […]