All government interference in the economy is an attempt to controvert reality. It is a childish game of lets pretend. Lets give people money and lets pretend they are prosperous. Lets tamper with the free market mortgage process and pretend that everybody has earned a house. From corporate bailouts to minimum wage laws its all a game of pretend. Its all a vain attempt to cheat reality and always fails because reality cannot be cheated.
A politician sees you fall in a mud puddle. He feels bad for you and wants to help. So he steps on your neck, gets a good grip on your feet and pulls you straight up. Sure your face is dangling in the water and your upside down, but at least your not laying in a mud puddle anymore!
Ironically (and humorously), the very first recession on record by economists for America was caused by an EMBARGO (1807). The very first recorded recession in our history ALREADY disproved the Keynesians' views on why downturns or recoveries happen! That's just rich.
The only time gold ever really "created" instability was the Depression downturn. Elsewhere in history when gold was the standard commodity for transactions, economies did fine! Scotland, in fact, had hundreds of years with very little bank regulation and no central bank. Did Scotland's economy falter? On the contrary!
All we really need is minimal but very specific targeted regulation of banking. But nothing else, esp. bullcrap like central banks or fiat money. And esp. not gov't inflation
The current post-1922 business cycle is really little more than a FEDERAL RESERVE cycle. The Fed, from what I can tell, is the main reason why things are so fucked up. Why recessions and downturns occur so often compared to before. And of course, the elimination of gold was a key factor.
All these jerkoffs in economics and politics always say "Gold has been debunked by the Depression. It's unstable. We can't have that!" Esp. Keynes. But not really, according to the EVIDENCE.
@whoo689 Actually the down turns occur less, but they are much deeper and catastrophic because of the fed. Before, the downturns occured more often but where relatively short and not so deep.
Tom Woods is great, but the editing in this video is horrendous.
Minionuup 1 year ago
Do no harm is a noble goal in politics.
bertly71 2 years ago 3
Professor Woods does outstanding research. I wish that more people would become familiar with his work.
BeachRooster 2 years ago 6
All government interference in the economy is an attempt to controvert reality. It is a childish game of lets pretend. Lets give people money and lets pretend they are prosperous. Lets tamper with the free market mortgage process and pretend that everybody has earned a house. From corporate bailouts to minimum wage laws its all a game of pretend. Its all a vain attempt to cheat reality and always fails because reality cannot be cheated.
carcabe 2 years ago 27
5 star comment!
LibertyPen 2 years ago
Spot on comment. I second that as a 5 star comment.
trekkerperson 2 years ago 5
This comment is now my Facebook status. :)
shamgar001 1 year ago
Thanks fort letting me know that!!
carcabe 1 year ago
A politician sees you fall in a mud puddle. He feels bad for you and wants to help. So he steps on your neck, gets a good grip on your feet and pulls you straight up. Sure your face is dangling in the water and your upside down, but at least your not laying in a mud puddle anymore!
XCritonX 2 years ago 24
lol
ipwnallnubscuzirock 2 years ago
Ironically (and humorously), the very first recession on record by economists for America was caused by an EMBARGO (1807). The very first recorded recession in our history ALREADY disproved the Keynesians' views on why downturns or recoveries happen! That's just rich.
whoo689 2 years ago
Fake paper money cannot possibly be more stable than limited gold or silver which can't be easily reprinted.
whoo689 2 years ago 6
The only time gold ever really "created" instability was the Depression downturn. Elsewhere in history when gold was the standard commodity for transactions, economies did fine! Scotland, in fact, had hundreds of years with very little bank regulation and no central bank. Did Scotland's economy falter? On the contrary!
All we really need is minimal but very specific targeted regulation of banking. But nothing else, esp. bullcrap like central banks or fiat money. And esp. not gov't inflation
whoo689 2 years ago
The current post-1922 business cycle is really little more than a FEDERAL RESERVE cycle. The Fed, from what I can tell, is the main reason why things are so fucked up. Why recessions and downturns occur so often compared to before. And of course, the elimination of gold was a key factor.
All these jerkoffs in economics and politics always say "Gold has been debunked by the Depression. It's unstable. We can't have that!" Esp. Keynes. But not really, according to the EVIDENCE.
whoo689 2 years ago 4
@whoo689 Actually the down turns occur less, but they are much deeper and catastrophic because of the fed. Before, the downturns occured more often but where relatively short and not so deep.
AmadeusStatisitician 1 year ago
Replace the Lincoln Statute with Warren Harding.
flynn2008 2 years ago 9