It’s been a while since we’ve heard from David, but attached is an interview he did with Mises.org. As usual he’s full of valuable insights and contrarian thinking. Enjoy.
Murray Rothbard is a person everyone who wants to really understand economics should know. He will challenge you and the things you have been taught. God help you if you have gone through a mainstream economics department. You are in for a wild intellectual ride. But boy is it a ride worth taking.
The recession (depression) never ended for most people. Those who have access to the financial markets, which have been inflated by the Federal Reserve have done well. The average family in the USA however now operates with 7% less than it did in 2008.
Zerohedge.com asks – “So if “quality of jobs” weakness is finally creeping into the best state for employment, what is left for everyone else?”
There they go again.
Capital is leaving southern Europe. One way or another, it’s leaving.
It is quite remarkable that just a couple of months ago the European supercrats were patting themselves on the back in Davos, sighing and telling the world that the storm was lifting. Someone please pass the caviar.
The great hope for business leaders and those of the political sort was that China would pull the world out of the greatest economic downturn in 3 generations. This has failed to happen and is failing more with each passing day. China isn’t going to save the day. China has been built on a good amount of economic magic and it needs a correction desperately. It likely has one on its hands though this still is not the official consensus.
And like today, during the Great Depression government enabled monopolies in big business, which hurt the overall economy.
A very good (and brief) video from Prager University
4 years ago Rick Santelli freaked out and raged with well placed righteous indignation on the floor of the Chicago Mercantile Exchange. I saw the moment when it was originally broadcast and the now famous rant was a highlight in a very bleak winter.
One would think with the economy on the rise (as we’ve been told that it is) this wouldn’t be the case. All that money printing by the Fed and an exec at Walmart is seeing the worst start to a month in his time with the company? Clearly this executive must have misplaced a decimal point or something. Things are going great.