Economist can be great as long as they are not sponsered by Governments!
Ludwig von Mises was born on September 29, 1881 in the city of Lemberg, Austria-Hungary, (now Lviv, Ukraine), to Jewish parents Arthur Edler von Mises and Adele von Mises (née Landau). Arthur was stationed there as a construction engineer with Czernowitz railroad company. Mises had two younger brothers: physicist Richard von Mises, and later Karl von Mises, who died in infancy from scarlet fever. When Ludwig and Richard were small children, his family moved back to their ancestral home of Vienna...read more...
Inflation and Deflation: The definitions of Inflation and Deflation are extremely hard to understand and are, most of the time, explained incorrectly:
- Inflation is not an increase in the price level of goods and services. It is a more than proportionate growth of credit and money supply. The consequence of this growth is mostly, but not necessary an increase in the price level of goods and services.
- Deflation is not a decrease in the price level of goods and services. It is a reduction of credit and money supply. The consequence of this action is mostly, but not necessary a fall in the general price level of goods and service....read more...
The Credit Crunch and Fractional Reserve Banking
With free capital markets, investment capital flows in increased amounts to the more profitable industries and producers, and in decreased amount to the less profitable declining industries and producers. Thereby the unencumbered free market also regulates the allocation of capital to meet the changing needs of the consumers...read more...
The Plunge Protection Team PPT (the modern Gold Pool)
"First, the speculators get blamed for the problem of high food and raw material costs. Second, government bureaucrats and officials begin meddling thinking that their intervention will cure the problem." The first step was to start a vast communication offensive has started. It uses the same logic as was used for the Iraqi situation before the 2004 presidential election: preventing voters from becoming aware of the extent of the disaster in progress by flooding them with fictitious news, by drowning "bad" objective news in a multitude of "good subjective news" (this is what an .....read more...[old link]
Government officials and the public opinion has still not understood what really is happening with energy and how Inflation, Hyperinflation and a Demand that meets inelastic Supply affects our daily lives and society....read more...
|High Order Capital Goods (HOCG) and Low Order Consumer Goods (LOCG) and how they behave in economic expansions (booms) and contractions (recessions) are very well explained by Ludwig von Mises....read more...|
Subprime CDO's (structured products) what are they and how do they affect the banking system?...read more...
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