Listen to Peter Schiff
Below please find some clips that show why one should listen to Austrian economists such as Peter Schiff, and why one should turn off the TV when he sees any of the mainstream pundits talk: August...
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Consumer Spending Update, Savings Update & Other Data
Consumption on Non-Durable Goods Down: Savings Up: Savings Rate Up, it was obviously unsustainable below 0: Personal Income Peaking: All in line with an ongoing consumer credit contraction. All in line...
View ArticleSavings and Investment
The following scenario shall explain the significance of savings on any market system: P1 produces A, P2 produces B, P3 produces C, all 3 produce these goods by transforming previously untouched land...
View ArticleThe End of Consumerism
In a free society where individuals are allowed to make choices by themselves so long as they don’t infringe upon their fellow men’s life, health, and property, entrepreneurs use natural resources,...
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US Saving Rate Highest in 16 Years
The US Personal Saving Rate just hit 6.9%: The last time it was higher was in December 1993: Savings are crucial to economic progress and prosperity. For the first time in decades Americans have...
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The Great Credit Contraction & Deflation
Lew Rockwell posted a piece by Bill Bonner which strongly supports the deflationist view: “In a fundamental shift, consumers are saving rather than spending,” notes the Los Angeles Times. This is the...
View ArticleIs Austerity a “Recipe for Disaster”?
Let’s say you are stranded on an island for a week and you climb trees every day to pick up and eat coconuts, and also set aside one coconut a day. Then over the course of the next week you don’t climb...
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Sectoral Balances and Private Saving
With permission from Being Libertarian, I am reposting an important exclusive piece I wrote that lays out some fundamental changes in how I’ve come to understand the functioning of a fiat money...
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