Comments on: Jacob Hornberger

By: Ralph Swanson

Ralph Swanson — Thu, 06 Mar 2008 01:18:20 +0000

Indeed, inflation has come to mean rising prices but the two are not the same. Rising prices can mean inflation but under different circumstances it can mean “cost increase”. Consider: prices double and your income doubles. Result – inflation. Now, suppose prices double and your income remain the same. Result – cost increase. Further suppose prices increase by 100% and your income increases by 75%. Result – inflation and a cost increase. The meaning of the term ‘inflation’ has been deliberately blurred both in the regular media and the specialized financial press. It is in fact normal and necessary for the money supply to grow when an economy expands. Gold and silver, to some, may be God’s metals but they won’t work as the sole money supply for an economy. Lastly, “free market’ economics is in fact a religion because it assigns certain characteristics to Man. It assumes a human being is only a special animal. Give up on the ‘ten-lost-tribes’ nonsense and you will see the world much more clearly.

By: Jet

Jet — Tue, 04 Mar 2008 08:11:22 +0000

Firstly, dont pay any attention to remarks about flag lapel pins, they know they are saying something quite silly and minor and they do it solely to create controversy and drive the opponents supporters crazy. Its an obfuscative tactic that puts people on time wasting defense.

Most people dont realize Jim is that the FED has a target rate pf 4.5% increase in inflation. They actually WANT regulated inflation.

Nixon closed the gold window in 1971. This let the global inflation genie out of the magic lamp, I dont know if they can stuff it back in. This means our dollar is subject to speculation and not pegged to oil or gold.

By: Steve Hogan

Steve Hogan — Tue, 04 Mar 2008 06:45:35 +0000

Jim,

The battle you speak of is critical. Unfortunately, this assumes that people have the intellectual tools necessary to understand the economic principles in question. They don’t. Most can barely read and write.

It pains me to write this, but the government does succeed at something besides killing and spending. It has achieved its goal of graduating millions of ignorant people that are oblivious, pliant and obedient. They also vote. The results are self-evident.

By: Jim Garrison

Jim Garrison — Tue, 04 Mar 2008 03:12:49 +0000

I have a brother who is an admirable professor of economics at a large American university. Admirable, because he teaches — against the grain — the Austrian school of Economics (a la Ron Paul). Yet even my brother will not take on the task of explaining the real meaning of inflation. Let’s get this straight: inflation refers to our federal government’s EXPANSION (via printing presses — or easy credit — from the Federal Reserve Bank) of our nation’s money supply. When this happens, each dollar eventually becomes worth less. In a very short time, these devalued dollars BUY LESS and it takes MORE OF THEM to to buy anything that everyone buys. American consumers see these rising prices as inflation. THE RISING PRICES ARE NOT INFLATION. The expansion of the money supply IS INFLATION.
There is no reason why “inflation” should be allowed to happen UNLESS the public is CONFUSED about the true MEANING of the term.
Why won’t even intelligent, admirable teachers like my brother explain the true meaning of inflation?
Because, as my brother tells me, in the field of economics, “inflation has come to mean: rising prices.” And he usually adds: “you have to pick your battles.”
I, personally, cannot think of A MORE IMPORTANT battle to pick than this one. Can anyone disagree?

By: Gov’t schools equal gov’t spending and war. (and the myth of FDR) « Liberty Forged

Mon, 03 Mar 2008 20:42:13 +0000

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