Good read: There’s More to Money than Hyperinflation

Picture Taken from the Mises Institute's Instagram

Via Matt McCaffrey:

The thing is, we don’t need Weimar-style money printing to redistribute wealth and encourage bubbles: even small credit expansions produce inequalities and malinvestments, whether hyperinflation eventually happens or not. Mises and other Austrians have been arguing this point for decades.

The problems run deeper than the threat of total disaster. In fact, that’s the whole point: if bad monetary policies always produced immediate catastrophe, people would long ago have seen the failings of central banks and done something to replace them. But because the distortions caused by monetary expansion seep slowly and discontinuously through the economy, their true origins remain unseen, even when the bubbles they create become obvious to the world.

There’s More to Money than Hyperinflation || Mises Institute 

Like after Fukushima, after 2014 snowstorms financial "experts" are blaming the weather for bad economy

There has been an increasing trend among financial "experts," TV talking heads, and economists to blame the weather on our crappy economy.

I first began to notice this trend in 2011 after the Fukushima Daiichi nuclear disaster when then Federal Reserve Chairman Ben Bernanke, testifying before Congress, attributed part of our slow growth to that earthquake caused event.

But now this explanation is back in full force, and we are supposed to believe that snow is the reason for the bleeding (Reason for the season? Christmas? Snow? Get it lol).

And we are supposed to believe this in spite of the fact that where the weather was arguably the worst, the chilly Northeast, house sales performed the best in the country. The NE saw a 12.5% increase in February, which was awful weather wise, to March. Meanwhile, the mid-West (-21.5%), the south (-14.4%), and the west (-16.7%), all received negative growth.

According to their line of reasoning, the rest of the states are need in some snow right now; and the ones that did get snow, they need more.

Video: Herman Cain vs. Ron Paul On Economy

Ron Paul in 2002 and 2003 on the housing market.
Herman Cain on the "alleged housing bubble."

Video: Young Peter Schiff Discusses the Tech Bubble in 2002

Peter Schiff on the American Dream

What is the American Dream? It isn't what the government told you. Peter Schiff explains:

The American dream is that any Americans, no matter how humble their beginnings, can work hard, save their money, and rise as high in our society as their ambition will take them, even become president. But getting rich by owning a home is not the Americana dream. Your home is your shelter. It does not replace the need to save your money for retirement. That misconception of the dream and the importance given to home ownership was a force driving the housing bubble and now is a force misguiding the policies dealing with the bust. The American people should understand that misconception and let go of it.

Peter Schiff, Crash Proof 2.0, page 188

Ron Paul: FED Action's have "nothing to do with free markets"

Dr. Paul on the latest act of "transparency" by the Federal Reserve:

Without the Federal Reserve's relentless expansion of credit throughout the 1990s and early 2000s, there could have been no excessive borrowing or explosion of subprime lending. Through easy credit, the Fed initiated the economic boom that created the dot-com bubble. When that bubble burst the Fed pumped additional liquidity into the system, which led to a new boom that created the housing bubble. Commodity prices have risen rapidly, producer prices have followed suit and consumers are already seeing the beginning of massive price increases passed on to them. And now the Fed's additional trillions of dollars in monetary pumping is creating yet another bubble. This is the exact opposite of stability in the marketplace and has nothing to do with free markets. It is central economic planning at its worst. And the end result may be hyperinflation and the destruction of our currency.

Paul's statement on the Federal Reserve Conference