Main stream economics teaches that deflation is a bad thing, while inflation is beneficial if held to a certain level. How this arbitrary level is ascertained is known only by those who believe in their macroeconomic models. Just what is inflation and deflation? Inflation Truths In recent history the term “inflation” has taken on new…
In the last article we discussed fascism and how it has crept into all segments of the economy. We learned that it had its beginnings in Alexander Hamilton’s “American System” which was not much more than a newer version of British mercantilism. Also, how fascism evolved out of Otto Von Bismarck’s large regulatory state apparatus…
When we were in chemistry class, we were told to be careful when mixing certain chemicals together. Most chemicals were inert and safe on their own, but when mixed with another chemical, a dangerous reaction could occur which could yield toxic or even deadly results. A similar toxic reaction can be realized in the…
Recently, fast food workers across America have been striking for higher pay, to include a “living wage”. Complaints have been that a fast food worker can’t afford to raise a family on slightly above minimum wage. Better yet, congress has held hearings over the last few weeks about the possibility of raising the national minimum…
There have been some recent comments on the web of how bad of a year 1913 was. With the creation of the Federal Reserve System, the passing of the 16th amendment (income taxes), 17th amendment (removal of States power by electing Senators directly) and 18th amendment (alcohol prohibition) much of the liberty Americans once had…
Much of the federal government is out of control because of the establishment of independent agencies and corporations. These operate autonomously on your dime without congressional control. The short paragraph in the link below states that these agencies and corporations help the government to operate smoothly, but who’s minding the shop? Cronies are appointed to…
On June 10th, 2013 CNN’s Pierce Morgan interviewed both former CIA Director and Booz Allen Hamilton Senior Vice President James Woolsey and former congressman Ron Paul about 4th amendment violations by the National Security Agency’s PRISM program. The full interview can be found here. As to be expected, Woolsey argued that all is fine because…
The Blue Collar Economist 