Austrian Economics vs Mainstream Economics | Mark Thornton

The Oldest the smallest and the fastest growing economics school The Austrian economics equals meritocratic economy. People who make stuff and exchange is what matters. You can't PRINT&borrow money and just figure ''its ok'' . Keynsian Economists create booms by steering markets through government spending . paper money is not wealth, it is used to obtain it. That's exactly why the housing bubble formed. The Fed lowered interest rates, stimulating investment. However, because the necessary REAL savings did not exist in the economy to fund it, there was not a sufficient market in housing in which people were willing to buy homes. Normally, we get money by producing. The new money used to invest was created without production. You can't print production.

The Austrian School of Economics by Max Keiser & Sandeep Jaitly

Max Keiser discusses the Austrian School of Economics with Sandeep Jaitly, an investment adviser and lecturer in Mengerian economics.
" The Austrian School is the school of Carl Menger , now Ludwig von Mises we all heard of he was a second generation student of Carl Menger , but Carl Menger was the founder of the Austrian school , and he founded it on only one axiom , and that axiom is that value does not exist outside of mankind consciousness , so basically all other form of economics classical neo classical ascribe value to something else other than the human mind , this concept gave birth to marginal utility which I am sure many people are familiar with it's the border use of something that determines its value , the economics of border use is the Austrian school " says Sandeep Jaitly "
"Max I am a mathematician and it has taken me quite a while to realize that all of the equations in neoclassical economics are rubbish , the differential equations describe nothing , Economics is not about mathematics, it is about the human being , Math is just a language if you have no philosophy it is useless and they have no philosophy " he added

Peter schiff on Bernanke Press Conference

Peter Schiff  Report Video Blog June 25th 2011
Ben Bernanke knows that QE3 is coming he just does not want to aknoweledge it says Peter Schiff , the news of the week is the announcement by the FED that they will continue their zero percent interest rate policy for an extended time period although how long extebnded is still in the air , Ben Bernanke did a follow up to that announcement with what hs become a traditional press conference where he acknoweledged that the US economy is in fact slowing down , Peter Schiff says the BenBernanke will later on announce an aditional Quantitative Easing although he may not call it QE , a term that Peter Schiff never liked anyways because it does not describe what the FED is really doing , they should call it instead Debt Monetization or Inflation Creation or simply Money Printing

Peter Schiff : There will be a QE3

Peter Schiff  : How long is the FED going to continue zero interest rates , and is there going to be any hints that there will be a QE3 asks Peter Schiff , Peter believes that There will be a QE3 no matter what they call it , it may not start immediately after QE2 ends but there will not be a big lag . From December of 2010 100 percent of all the bonds that the government have sold have been bought by the federal Reserve , in fact the federal reserve is actually buying more bonds than the government is selling particularly in the last couple of months , the federal reserve is buying all the bonds and some that the treasury is selling . How can the federal reserve step away from the market and not have a big increase in rates ? asks Peter Schiff after all who is going to buy these bonds if not the FED




The U.S. Postal Service Reported a First-Quarter Net Loss of $329 Million

Peter Schiff : America has lost its fire

Peter Schiff on CNBC this 20 June 2011 Discussing whether the U.S. workforce has lost its competitive edge and what has to happen to stay competitive in a growing global economy, "absolutely. you have hundreds of Americans taking guaranteed loans with no skill set. if they could go into the workforce at a younger age. all these minimum wage laws, labor unions, we could transition our workforce and could have skilled laborers that could actually make stuff. instead we're running huge trade deficits importing things from china" says Peter Schiff "i don't want people to learn in school. i want them to learn on the job. want them to learn from people who know what they're doing, not just in the educational bureaucracy. that's there to serve the educational establishment and it is bankrupting the country. but we need to have fundamental change in our economy. we need a real restructuring. government is preventing that from happening. the longer they stimulate the economy with cheap money and as long as the government keeps regulating and micromanaging, we're never going to have a real economy. we're just going to keep blowing more air into the bubble until it just explodes." he added

Peter Schiiff Report Video Blog June 17st 2011

Peter Schiff Report 17 June 2011 : Germany's Merkel now caves in Greece , accepting the idea that the Greek creditors should not bear the lion share of the losses , this is positive for the Euro which rallied today , the European politicians are not any better than the American politicians all they want is less pain for everybody so that they get reelected , the Europe rose sharply today , this means that the euro will rise against the dollar , now the euro has become like the dollar , investors already know that there will be bailouts when needed nobody can default of euro bonds , Europe will crank up the printing presses just as the FED does with the dollar

John Stossel - The Licensing Racket

Expensive useless licenses in order for for our government to get the money to pay expensive useless harmful bureaucrats who spend their days sitting in armchairs moving a mouse and staring at a computer screen and having coffee breaks cigarette breaks and what have you breaks...the government is cancer and the more we keep feeding it the more it will eat us up , we do not need the government to tell us how we should live our lives

Peter Schiff Interviewed by Max Keiser on The Edge Press TV - Jun 11, 2011

Max Keiser interviews money manager, economist author and radio host Peter Schiff to talk about inflation : "yo know you get this Keynesian or neo Keynesian idea that inflation or economic growth or unemployment high unemployment are somehow mutually exclusive that as long as you have a slack in the economy and i.e. resources and unemployed workers that you cannot have inflation , I mean no matter how much money the government prints that prices are not going to rise and that nonsense in fact reality is just the opposite people who are employed in making things keep prices down in fact prices will fall if you have a lot of people making things because the supply of hings goes up and so the price of those things can go down , when people aren't working and aren't being productive you have a scarcity in production and that makes prices go up you throw cheap money on top of it , you have inflation being created by central banks and you have more and more money chasing the diminished quantity of stuff , prices can ruse much faster in a weak economy than they would in a strong economy "

Peter Schiff - investing in Senior Life Settlements SLS

Peter Schiff  : ...at the end of your question you hit the nail in the head as to why I would not recommend them because you are buying a potential pay off in US Dollars and the question is what are those dollars are going to be worth if and when you get your pay off , so if you can look at these products and have them in Swiss Franks for example then I might be attracted to them but to the extend that their future payments is the US Dollars and I have great doubts as to what the US Dollar will be worth in the future , certainly the further in the future you go the less sure I am of what the dollar will buy , I personally would not be looking at them I want future obligations in currencies that have a better chance of not being debased to the degree that I believe the dollar will or that aren't currencies at all , that are in commodities or in precious metals or if they are in stocks of companies that are paying dividends where if there is a lot of inflation no matter where they ultimately will be able to pass on their higher costs in the form of higher prices which means they will be able to increase the dividend they're paying which means I can be compensated and I can hold my purchasing power steady in an inflationary environment .....

Peter Schiff : we are in a depression not a recession

Peter Schiff : we are not in a recession this time we are in a depression unfortunately we did not lose enough jobs because president Obama still has his , he thinks we are on the road for recovery , no he put us on the road for ruin , he is there bragging about how the government saved the auto industry they put the final nails on the coffin of the auto industry we would have a much better auto industry if we had allowed them to go through a legitimate restructuring through bankruptcy instead all we did is turn the keys over to the UEW and now we gonna have a less competitive auto industry than would have been the case had we allowed the markets to do it ,





If the Federal Reserve keeps pumping more money out of thin air into Social Security and the Fractional Reserve Banking ponzi scams to prevent them from collapsing, the dollar will hyperinflate!

Michael Pento: QE3 is Inevitable

Michael Pento is Senior Economist at Euro Pacific Capital. He has daily economic blog "Pentonomics" : Bernanke is on record saying that he could stop inflation without a doubt one hundred percent all he has to do is sell all those assets , what will happen when he start dumping mortgage backed securities he got 1.8 trillion dollars of mortgage backed securities and GSE debt , what happened to the value of that debt , guess what the balance sheet would run so fast that he would not have any assets left to sell and the money will be left in perpetuity in the system , so he is laughing , he cannot aggressively drain his balance sheet period end of the story , says Pento ...

Peter Schiff - Big Sell-off in the Stock Market today 01 June 2011

Peter Schiff - we had a Big Sell-off in the Stock Market today , the Dow dropped almost 280 points , the dollar sank to a new record low against the Swiss franc it also fell against the Yen but it strengthens against all other currencies especially those currencies associated with economic growth or commodities such as the Australian and new Zealand dollar , gold rose but silver lost some ground ..

Peter Schiff - Ron Paul Has a Good Chance in 2012

Peter Schiff says Ron Paul has a good change to win the 2012 election. Ron Paul has a lot of credibility because he has predicted a lot of what's now happening in the economy.Peter Schiff says Bush and Obama have the same big Government policies.Gas prices will definitely be higher at that time - maybe about $1 higher. More people will be unemployed, and we might be back in a recession even by official measures.