Austrian Theory of the Business Cycle

Austrian Theory of the Business Cycle

Please read Meltdown by Tom Woods for a more complete explanation.

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[00dfm00]

Nicely done.

[GypsyHustled]

@00dfm00

Why thank you!

[mogodbilealadamnbama]

I'm outta my league, here. Just getting comments from the likes of VisionVictory, whippoorwillss and GuildF40 is high praise, indeed!

However, the Fed is just a cog in the wheel of high finance. It's America's cog, but it ain't the whole wheel.

Rothschild et. al., would gladly sacrifice a single cog to preserve the wheel.

As the US fails, China advances. The wheel is preserved.

[GypsyHustled]

Sure, I will talk about the Rothschilds in a future video. I just wanted to explain this one theory which i think is crucial to understanding our current economic mess. Thanks

[mogodbilealadamnbama]

Yessir! Only thing I would disagree on is that it's not just a theory. It is fact.

[petiemac24]

@louiethegreater ..There are already central banks around the globe. END THE FED....RON PAUL FOR PRESIDENT 2012

[louiethegreater]

@ALFTUBE50 No Americans can compete as long as they are will to work for .58/hr. When equilibrium is reached in wages, lifestyles, incomes than free trade will have produced its intended effects. Which is to usher in globalization and the new world order, where a few elitist families can have a global plantation. You should be informed that you are not one of those global elitist. I personally do not accept New York times articles as being proof of anything. 

[louiethegreater]

@ALFTUBE50 Yes we all see what we want to see. You obviously missed the the fact that 80,000 manufacturing facilities have left the country, and has created 30 million unemployed Americans. Yes, industry has the privilege to move if they want. However the U.S. has the privilege of imposing protective tariffs on their products. Actually in post 1960s world the U.S. protected her markets with protective tariffs. The evidence is that the U.S. is racing toward third world status, with every import.

[ALFTUBE50]

@louiethegreater One thing is what goverment say, and other what the goverment do! If the goverment create 180,000 regulations (NYT data), thast not Laissez-faire. The american workers CAN compete but they have to understand, they companies can move anyware and any time, they have to be more flexible, and not to try to force the employer to give him work! And yes the grapes of California are selling in honk kong right now, and México, and other countries.

[ALFTUBE50]

@louiethegreater Wrong! Neo liberlism es privatizatión yes, but no all and not for all. We are as close to free trade as we have ever been? Yes and the goverment grow more, and the regulations, laws, etc. You see the things that you want to see, and dismiss the evidence, why? because we have a mix system where the goverment try to control more and more, bailout losers and friends, rises taxes, etc.

[louiethegreater]

@ALFTUBE50 Laissez-faire free trade was adopted as political policy in the U.S. in the late 1960s. We have progressively moved our economy toward free trade. Protective tariffs was removed in 1994, american labor was placed in direct competition with 4 billion Asians. The U.S. has thrown working american under the bus, without any hesitation. The problem is we are not selling California Grapes to China, wine maybe, but not grapes. China places a 25% tariffs on U.S. products we a 2.5% tariff.

[louiethegreater]

@ALFTUBE5 Well you have a very idealistic simplification of globalization. You also have a distorted view of neo-liberalism. The neo-liberal attitude is privatization of all resources, that the governments function is the oversee that privatization. Rivers and streams, subterranean water, roads, highways, even the military ect. are all to fall into the hands of private investment. Neo-liberals believe that Government is wasteful and inefficient. We are as close to free trade as we have ever been

[ALFTUBE50]

@louiethegreater Neo liberalism is Neo- estatism, why? because make the goverment more eficient in taxes and reduce his sizes only to grow again. And you forget if the are a FED, can´t be free trade, if there are more regulations can´t be free trade, if there are more laws, can´t be free trade, if there are more and bigger taxes, can´t be free ftrade. Free trade means FREE, globalization mean that you can sell california grapes in honk kong and buy coffee in colombia, thats good

[louiethegreater]

@ALFTU1BE50 NO I AM RIGHT

[ALFTUBE50]

@louiethegreater Wrong!

[vladdrac88]

I bookmarked this page. I wish I could do a short translation of a Russian fable about a Fox and a Stork who fall into a peasants trap. "United we stand divided we fall" goes for species as well as houses and nation states. :)