Posts Tagged ‘sound’

The most important element in your strategy to win the battle for… survival is your own psychology…..

It’s not enough to liquidate your past… mistakes. It’s more important to liquidate counterproductive attitudes, approaches, and methods of dealing with problems. The results that someone gets in life are an indication of how sound his approach toward life is. A sound philosophy of life gives good results. People with chaotic, unproductive, and unhappy lives usually don’t have anyone to blame but themselves.” -Doug Casey

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Flying Deadlines

Posted: November 6, 2018 in Thought for the Day
Tags: , , , ,

“I love deadlines.  I like the whooshing sound they make as they fly by.” -Douglas Adams

“Americans feel squeezed because the cost of rent, medical insurance, and tuition – as well as other basic living expenses – is rising much faster than their wages. This creates very real problems for ordinary people.

By every measure – including stagnating wages and rising costs – things have been going downhill for the American middle class since the early 1970s. August 15, 1971, to be exact. This is the date President Nixon killed the last remnants of the gold standard. Since then, the dollar has been a pure fiat currency.

The rejection of sound money is the primary reason why inflation has eaten up wage growth since the early 1970s – and the primary reason why the cost of living has exploded.

Measured in gold, wages in the U.S. have fallen over 84% since 1971…. Priced in gold, the minimum wage has fallen 87% since 1968. Note that the federal minimum hourly wage was $1.60 in 1968. It’s $7.25 today, or 353% higher in dollar terms. But that $7.25 buys 87% less than $1.60 did back in 1968. That’s the story you won’t hear from the mainstream press.

Inflation follows a clear a pattern of corruption:  In a fiat currency system, the government will invariably print an ever-increasing amount of currency. This makes prices and the cost of living rise faster than wages. The average person feels the pain, but doesn’t understand what’s happening. More people support politicians who promise freebies. In order to pay for the ‘freebies,’ the government prints more money. This creates even more inflation, and the cycle repeats.”

-Nick Giambruno

“The masses do not conceive any ideas, sound or unsound. They only choose between the ideologies developed by the intellectual leaders of mankind. But their choice is final and determines the course of events… it determines the whole process of human history.” -Ludwig Von Mises

“Commercial banks operated on sound classical principles. It’s a different story these days. Central banks and commercial banks are essentially Ponzi schemes, and engines of inflation. It’s a major reason the rich are getting richer—which is OK, except that today it’s at the expense of the middle class.” -Doug Casey

“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

“The results that someone gets in life are an indication of how sound his approach toward life is.  A sound philosophy of life gives good results….  That’s one thing no one can ever take away from you and you can never lose: your attitude toward life.” -Doug Casey