Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
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A columnist for the London Telegraph admitted that he had a deadline to meet, but he had nothing much to say. Then he proved it. I doubt his audience had any idea what he was talking about when Ron Paul, the US presidential hopeful, declared that “we are all Austrians now”, but you have to [...]
Continue reading →For one week only, I am making available my book on money. It shows how the fractional reserve banking system creates the boom-bust cycle. It shows how the Federal Reserve was set up to keep this system going. Maybe you have been confused about monetary theory. This book will clear things up. Why am I [...]
Continue reading →This joke has it right. Question: A Greek, an Italian and a Spaniard walk into a bar. Who picks up the tab? Answer: The Americans. The author understands how the financial markets work. The Europeans will pay for their bankers’ stupidity. So will we. MF Global was just the beginning. And then there is the [...]
Continue reading →In The Wizard of Oz, three Munchkins represented the Lollipop Guild. Economist and fund manager John Hussman has taken that phrase and has elaborated on it. We represent the Lollipop Guild Frankly, I am concerned that Wall Street is becoming little more than a glorified crack house. Day after day, the sole focus of [...]
Continue reading →China’s real estate bubble has popped. Rich Chinese who bought urban residential living space and are holding empty space off the market for appreciation have begun to take the inevitable bath. Most analysts expected monetary easing to start next year when inflation had subsided further. But then most China analysts were predicting a “soft landing” [...]
Continue reading →China is the world’s #2 economy after the USA. It has the world’s largest real estate bubble. That bubble has popped. The losses will be enormous. China is also facing price inflation, especially of food. Why? Because of its monetary inflation. The central bank has been goosing the economy with fiat money for a decade. [...]
Continue reading →The Austrian theory of the business cycle is clear: when a central bank inflates, it will produce a boom. When it slows the rate of monetary inflation, the result is economic recession. I have written about this here. China’s central bank has been the most inflationary of any industrial nation. Now it has slowed, because [...]
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