DARRYL ROBERT SCHOON: Inflation - Up, Up and Away Inflation is a monetary phenomena that can destroy currencies and buying power in the blink of an eye. Economists' have temporarily forgotten about inflation as its equally dangerous twin, deflation is back. They shouldn't forget about inflation. They may be rudely reminded of its presence and soon. full article...
J. Bradford Delong: The Greater Depression Even economists are beginning to see the truth. The downturn is far more serious than they thought. Who'd a thought. Not economists. It's not just a recession after all. It's a depression. Worthy of thought and reflection.
The Economist: Japan's bond market - Quantitative freezing Like the Fed, Japan's central bank is now buying most of Japanese govt bonds in an attempt to reflated its faltering economy. The massive intervention has 'frozen' its bond market as long-time effects remain unknown. Worthy of thought and reflection.
Darryl Robert Schoon "follows the money" in describing the power dynamics behind today's economy. Capitalism, i.e. modern banking, is a system where bankers issue debt-based money in order to profit by the indebting of others. This is why the world is indebted beyond its capacity to repay.
DRSCHOON.COM features the articles of Professor A. E. Fekete of the New Austrian School of Economics, a leading expert on gold and its role in financial markets and the economy.
The Wisdom of Adam Smith for Our Own Times
- A Rejoinder -
Let us celebrate the 291st birthday of the great Scottish economist together and let us rehabilitate his Real Bills Doctrine!
Richard Ebeling in the June 3rd issue of the Daily Bell under the same title contributed a much needed reminder of the relevance of Adam Smith's wisdom to our contemporary world. I am not going to speculate whether the omission of not mentioning Adam Smith's Real Bills Doctrine was accidental or deliberate. However, it is well known that post-Mises Austrian economists have taken a disdainful view of the Real Bills Doctrine and it would have been nice to have Ebeling's coherent articulation of their position. I can do no better than revisiting Adam Smith's great contribution to the theory of money and credit (which, significantly, received the nihil obstat of Carl Menger a hundred years later) for the benefit of the Daily Bell's readership. full article...