Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on December 10, 2016
This is ad copy from the publisher: Hot off the press: Christian Economics in One Lesson, by Dr. Gary North. Powder Springs, GA: American Vision Press, 2016. Hardback with dust jacket. 241pp. $25.00. On Sale: $20.00. Christian Economics in One Lesson is a biblical reworking of Henry Hazlitt’s classic introduction to economic thought, Economics in […]
Continue reading →Written by Gary North on September 3, 2016
John Maynard Keynes was a crackpot. So are his followers. All of them. I can hear the shocked response. “But, Dr. North, you’re not supposed to say such things. It’s not polite. It shows a lack of etiquette. People who say such things are themselves dismissed as crackpots.” To which I respond: “Dismissed by whom?” […]
Continue reading →Written by Gary North on April 23, 2016
Money seldom fails, but occasionally, it does. It failed in Germany and Austria 1921-23. It failed in Hungary after World War II. It failed in Zimbabwe in 2008-9, when the rest of the world was in a recession. Here is a famous case of the failure of money: And there was no bread in all […]
Continue reading →Written by Gary North on April 16, 2016
What is fiat money? It comes from “fiat,” which means a formal authorization or proposition or a decree. Synonyms are these: edict, order, command, commandment, injunction, proclamation, mandate, dictum, diktat. It is an arbitrary order. The phrase “fiat lux” comes from Genesis 1:2: “Let there be light.” Fiat money is the money issued by a […]
Continue reading →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. […]
Continue reading →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. […]
Continue reading →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 […]
Continue reading →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, […]
Continue reading →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 […]
Continue reading →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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