Posts Tagged ‘Economics’

“All throughout the history of economics, technologies have emerged and replaced the worst jobs and released human beings to do better things.” -George Gilder

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“Economics deals with the real actions of real men. Its [laws] refer neither to ideal nor to perfect men, neither to the phantom of a fabulous economic man (homoeconomicus) nor to the statistical notion of an average man. . . . Man with all his weaknesses and limitations, every man as he lives and acts, is the subject matter of [economics].”
—Ludwig von Mises

“Contrary to popular belief (and most economics textbooks), when banks make loans, they don’t dip into cash in their vaults… or into other customers’ deposits…  Instead, they loan new money into existence.” -Chris Lowe

“It’s EZ credit that is the linchpin in today’s fake-money system.

The Deep State’s stocks, bonds, and real estate values… not to mention its careers, incomes, and reputations… depend on it.

And it is made possible by the China trade… by Chinese workers who put in long hours in miserable conditions in order to stock the shelves of Walmart with cheap goods… by Chinese manufacturers who undersell their competitors to keep consumer price inflation in the U.S. at low levels… and by Bank of China, which holds some $1.25 trillion worth of U.S. bonds… thus propping up the whole wobbly capital structure….

In politics and economics, BS is all there is. The calculations are almost always fake; the statistics are quackery; the theories are devilish nonsense. And bad ideas never entirely disappear, they just re-emerge after a few years… often dressed in new duds.”

-Bill Bonner

Explain Economics

Posted: March 7, 2018 in Economics
Tags: , , , ,

“Economics studies and tries to explain how people make exchanges.” -Robert Murphy

“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.” -Henry Hazlitt

“Most people assume that if you know about investing, you must also know about economics, which is a related discipline.  But that’s completely untrue.  It’s analogous to thinking that someone who knows how to drive a car also knows how one works.  Economics is the study of how men go about producing and consuming; investing is the practice of allocating capital for maximum returns.” -Doug Casey