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Keynes, Lenin, and Hyperinflation

Written by Gary North on September 25, 2014

keynes

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

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

household-income

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

money

“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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Inflation: The Economics of Addiction

Written by Gary North on January 4, 2014

Inflation: of all the dangers to the free market economy, historically and theoretically, the greatest is this one, yet it is one of those subjects that remain wrapped in mystery for the average citizen. This elusive concept must be understood if we are to return to the free market, for without a thorough comprehension of […]

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Median CPI Up 0.1% in October

Written by Gary North on November 21, 2013

The CPI, or consumer price index, fell 0.1% in October. But the Median CPI is a more reliable guide. It fluctuates less than the CPI. It provides a better picture of consumer price changes. What matters is the trend. The numbers are disputed by a handful of analysts, who say that prices are rising. But […]

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Panhandlers of Inflation

Posted on October 31, 2013

By Richard Ebeling On October 27th, The “New York Times” featured an article on, “In Fed and Out, Many Think Inflation Helps.” It quoted Costco’s chief financial officer as saying, “I’ve always said that a little inflation is good.” Charles Evans, president of the Chicago Federal Reserve Bank, said in a recent speech that, “inflation […]

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Jimmy Carter’s Greatest Speech

Posted on October 24, 2013

President Jimmy Carter, November 1978 Good evening. On Tuesday, we Americans will have the opportunity to exercise our role as citizens in a free democracy. Yet, only a third of the eligible voters will actually cast ballots. The other two-thirds are, in a sense, very lucky. Because they do not know what’s going on. Last […]

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