Peter Schiff 10-8-08 Part 2 of 6
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the German workers went on strike to protest the occupation of the Rheinland ( Sudetenland is somewhere else!). by French troops. Germany had to pay the Allied forces 226 billion GOLD marks. No chance Germany could come up with this money and the result was the hyperinflation of the Weimar republik and
Adolf Hitler - the rest you should know by yourself
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Because it calls for the Govt, special interests and elites to give up substantial amounts of power, the "security" of central economic planning and the near limitless, effortless excesses of fiat currency. Also, Keynesians fail to see they need to understand basic human individual and social needs and behaviors prior to establishing economic theories/law. Consequentially, their hypotheses are wrong because the foundation is wrong.
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At the end of World War I, German instructed the factory workers in the Sudentenland (area between France & Germany) to go on strike. They promised to subsidize the strike with printed money.
A few years later the German mark was so worthless that people were burning them to keep their houses warm.
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A majority of the current government rejects Austrian economics. Not on principle but because they don't know any better.
Keynesian economics is simply "what can I get away with if I don't study economics".
Until we get elected officials who either a) understand Austrian economics or b) accept advice of Austrian economists, we're doomed.
3 years ago 2
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Can you speak with Obama? He doesn't have a clue
caganb 3 years ago 6
seriously.......WTF.....think im gonna go and live on and off the wisconsin and mississippi river for a while......catchin' fish and huntin duck!! fuck this
painisanillusion7 3 years ago 2