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Isaiah’s Critique of Inflation

Written by Gary North on December 5, 2015


The prophets of Israel were seldom popular men. They had a habit–a nasty habit, in the eyes of the political and religious authorities–of speaking God’s mind in front of the people. They did not hesitate to spell out the nature of the sins of the people, the government, and the “opinion setters” of their day. […]

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Christian Economics in One Lesson, Chapter 22

Written by Gary North on August 29, 2015


The Mirage of Inflation Thy silver is become dross, thy wine mixed with water (Isaiah 1:22). The prophet Isaiah was publicly criticizing the nation as a whole. He also spelled out the crimes of political rulers. They were bribe-takers. They were companions of thieves (v. 23). They rendered false judgment, cheating widows and orphans (v. […]

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The Digital Revolution vs. Inflation

Written by Gary North on May 30, 2015


There are constant debates over whether we are in an inflationary or a deflationary environment in the United States. I argue, and I have been arguing for a decade, that we are in a mildly inflationary environment with respect to consumer prices. Obviously, with respect to the monetary base, we have been in a wildly […]

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Deflation? No. Inflation.

Written by Gary North on February 27, 2015


The media announced that the CPI was down 0.7% in January. Why? Falling oil prices. I pay little attention to the CPI. I watch the Median CPI, which is published by the Federal Reserve Bank of Cleveland. It is less volatile than the CPI. The Median CPI was up 0.2% in January. Year to year, […]

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A Rising Dollar Terrifies Keynesians

Written by Gary North on January 28, 2015


The headline in the Financial Times blares this message: Strong dollar weighs on US results. Keynesians love soft dollars. They love price inflation. They love a boom caused by central bank inflation. The Federal Reserve stopped QE3 last year. It is no longer buying U.S. government debt, Fannie Mae debt, Freddy Mac debt, or anything […]

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Keynes, Lenin, and Hyperinflation

Written by Gary North on September 25, 2014


In 1919, John Maynard Keynes became an international figure of considerable influence because of his book, The Economic Consequences of the Peace. It was a critique of the Versailles Treaty’s imposition of reparations payments on Germany in the aftermath of World War I. In that book, Keynes made the following observations. Lenin is said to […]

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Trump’s Warning on Federal Debt

Written by Gary North on July 3, 2014


Donald Trump recently sounded a warning on the growth of the U.S. Government’s debt. He thinks that the USA is headed toward the condition of Greece and Spain. My view: that will take time. Greece and Spain are nations where trade unions are dominant. This is not true in the USA. The unions have at […]

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Median Household Income Down 9% Since 1999

Written by Gary North on May 22, 2014


David Stockman has offered a useful table. It reveals that median household income in the United States peaked in 1999. Since then, adjusted for price inflation, it is down by 9%. The Federal Reserve pumped in trillions of dollars in fiat money. The U.S. government has run trillions of dollars in deficits. Stockman’s conclusion is […]

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Quick Observations on Inflation in the 1970’s

Posted on April 24, 2014


“Gold bugs” take it for granted that it was no coincidence that the US got hit with stagflation in the 1970’s, because Richard Nixon infamously severed the dollar’s last tie to gold in 1971. Others, however, dispute this connection. So I thought it worthwhile to make a simple case in defense of the gold bugs: […]

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