Posts Tagged ‘Economic’

“The desire to work less is not a vice, but a fundamental aspect of emotional intelligence. When combined with commitment, persistence, and common sense, it creates economic efficiency, an essential component of building great wealth.” -Mark Ford

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“Washington’s $523 billion in debt service costs this year was the highest on record. That’s more than Belgium’s entire economic output (or GDP) this year.” -Chris Lowe

Economic Growth?

Posted: October 18, 2018 in Economics
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“Right now, credit growth drives economic growth.” -Richard Duncan

Productive Gains

Posted: September 4, 2018 in Economics
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“The underlying economic problem in America today is that money no longer flows to everyone equally in the way that it used to.

 That much is obvious, right? As our country has gotten richer than ever… the income disparity widens every year.

 But most Americans don’t understand why this is happening.

 And here’s the secret:

 The real underlying cause of our wealth and income disparity in America is that wages are no longer connected to gains in productivity.”

-Porter Stansberry

"Real economic progress is made by willing participants with skin in the game 
doing win-win trades with real money." -Bill Bonner

“Why do we use money?…  the social function of money is to facilitate economic calculation.

Money cannot do this if its future purchasing power is subject to violent swings because of political intervention….  sound money has desirable properties such as a predictable purchasing power.” -Robert Murphy

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“Here’s a chart based on research from the Economic Policy Institute that describes the problem. As you can see, productivity in this country grew nearly 250% between 1948 and 2014, but median wages only grew 109%…You’ll also notice that the divergence begins around 1971… the year President Nixon removed the U.S. dollar from gold.

Why? Because paper money doesn’t transmit gains in productivity like real, sound money should.

In short, when the dollar was unlinked from gold, the government was granted the ability to create unlimited amounts of new money. But this money doesn’t flow to everyone equally. It is created in the banks, and then works its way through the financial system before eventually trickling down through the real economy. The result is that asset and consumer prices have risen far faster than wages.” -Justin Brill