The First Victim of a Chinese Currency War: the Chinese People

The news is reporting on a Chinese currency war as if the key to economic prosperity is found in debasing the currency. The Chinese people need stuff so they have to buy stuff. In order to do this as efficiently as possible, they need to use money when they buy stuff. Unhappily, rather than use a real commodity for money, the government banking system has commandeered the social institution of money and replaced the commodities with paper symbols (or computer figures). So now China has begun Read more […]

Venezuela Hyperinflation: This Is Where Socialism Goes, and So Do We

Both Greece and Venezuela show us slightly different versions of the future we are being led into, but no one tries to stop it. I think the most frustrating thing about what is going on in the world right now is that we are all simply accepting that there is no other path we can travel. We are just standing in a single line to a very unpleasant crisis, with no thought of breaking out of it. Our only comfort is that other nations are ahead of us in line. That doesn’t help unless we use the Read more […]

Union Wages Don’t Matter if Cost of Living Rises

Union wages seem better until you realize they cause price inflation. Unions are desperately trying to make progress using illegal aliens but Republicans are getting ready to fight them. In preparation for that struggle, no doubt, The Daily Signal has published, “6 Myths About Right-to-Work Laws.” Many states and local governments are considering right-to-work laws. These laws make union dues voluntary. Without them, union contracts make paying dues a condition of employment. While most Read more […]

Americans Robbed of over Ten Percent of Their Wealth Since the Recession

Over and above taxes and other scams, how were Americans robbed? By the Federal Reserve through inflation. Let me preface this by saying I have never been a Glenn Beck fan. I only saw this because of a link on a news aggregator. You would never hear this kind of frank and truthful discussion from any of the major corporate media. Peter Thiel—co-founder of PayPal, among his other credentials—lays bare the immorality of the current banking and power structure in a way I have rarely heard. Remember Read more […]

Our Economic Masters Are Afraid of Low Prices!

Our elites profit as long as we are kept from enjoying low prices! The economic house of cards continues to wobble. A collapse is inevitable. Evan Ambrose-Pritchard writes in the Telegraph: “Dam breaks in Europe as deflation fears wash over ECB rhetoric.” A key gauge of deflation risk in Europe is flashing red, dropping to record lows on fears of fresh recession and lack of decisive action by the European Central Bank. The sudden lurch downwards came as Bank of America warned that Read more […]

Inflation is Bad for Us!

I still vacillate between believing people like this really are tragically blinded to reality by an abysmal education and ideology, and the thought that some in this Administration actually do want to destroy America and her place in this world. The truth is likely beyond my ability to ever authoritatively discern, but the painful results of beliefs like what is argued here will be felt from sea to shining sea. I don’t have time to explain everything that was wrong with that article Read more […]

End the Evil! End the Fed!

Why must we end the Fed? Mark Horne nails the evil Federal Reserve System with this conclusion: When preparing for the future becomes too difficult to accomplish, people tend to push it out of their minds. They are not failing to save for the future because they don’t think about it. They are failing to think about the future because their government has made it to difficult to save for the future. The elite have enriched themselves through immoral economic policies, and force anyone trying to Read more […]

New European Central Bank Policy: Not Even Ben Bernanke Was This Insane

Last night, in our Church prayer meeting, one of the topics mentioned was how difficult it is these days for people on fixed-incomes to survive (what with food prices up 20-30% in the recent past). I didn’t say it—I restrained myself—but my blood was gently boiling because one of the main culprits is systemically unjust economic policy. Savers are being brutally punished so that high-flying bankers can keep their mega-bonuses. Now today… this. From Bloomberg.com: “Draghi May Enter Read more […]

Seniors on Fixed Income Suffer Deprivation So NYC Real Estate Can Enjoy a Boom.

The New York Times reports: The luxury market has been strong for some time, but it exploded in the first quarter, with prices jumping 45 percent to an average of $7.4 million from $5.1 million, according to data from the appraisal firm Miller Samuel. That is the largest year-over-year increase in six years. Driving the market has been a staggering lack of inventory. Just 174 new condominium units came to market in Manhattan in the first quarter, a 73 percent drop from the first quarter of 2013, Read more […]

Prices Soar As Wages Stagnate: Federal Reserve’s Damage Continues

The price of meat has not spiked this high in one month since November, 2003, according to Zero Hedge. It rose almost three percent in April. According to our leaders, this is good news. USA Today reported, Wholesale prices rose sharply last month, driven up partly by higher prices for meat and other foods. The producer price index, which measures changes in the prices of goods and services that companies buy, increased 0.6% in April, the Labor Department said Wednesday. Although inflation Read more […]

Inflation Is A Policy, Not An Accident

Why are prices at the grocery store getting higher, while the package and portion sizes are getting smaller? From the Ludwig Von Mises Institute of Canada: “Central Bankers: Inflation Is God’s Work” Inflation is always somebody else’s fault. Ludwig von Mises called out finger pointing central bankers and politicians decades ago in his book, Economic Policy. “The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements Read more […]

The Economics Of Haters: Cars & Baby Clothes Not Becoming Unaffordable Fast Enough

The insane ideology posing as “economics” among our ruling class never ceases to amaze me. Here it is in a Bloomberg story: Five years into the U.S. economic expansion, inflation shows little sign of picking up as prices rise more slowly for goods and services from automobiles to medical care, complicating the Federal Reserve’s drive to guide the economy away from the precipice of deflation. The personal consumption expenditures price index, minus food and energy costs, rose 1.2 percent Read more […]