Those who forecast deflation fail to make this key distinction. What they forget is that while prices will be falling, the value of paper dollars will be falling even faster. So they will be correct in that prices will indeed fall in terms of gold, but they will totally miss the mark in that prices […]
According to the classical economists, like Mises and Hayek of the austrian school, recessions should not be resisted but embraced. Not that recessions are any fun, but they are necessary to correct conditions caused by the real problem, which is the artificial booms that precede them.
Such booms, created by inflation (increased money supply), send false signals to the capital markets that there are additional savings in the economy to support higher levels of investment. These higher levels of investment, however, are not authentically funded because there has been no actual increase in savings. Ultimately, when the mistakes are revealed, the […]
Everybody wants to be rich or famous but few are willing to do whatever is necessary to get there – you have to ask yourself if you are willing to do whatever is necessary to achieve your ideas and aspirations.
And there it is. It’s definitely not talent; some of the most talented people I know in various fields are perennially broke and frustrated and miserable, while obviously significantly less talented people in those same fields are rolling in dough. It’s not education. It’s not place of birth, family background. It’s definitely not paucity of […]