Thursday, June 27, 2013

Will Raising Taxes help Reduce the US Federal Deficit?

A detailed explanation on if the notion of raising taxes will help the US Federal Deficit. Dr. Davies breaks down the problem, providing some graphical support to his point. An excellent video.

Public Housing: Does it help or hurt the Poor?

Dr. Milton Friedman discusses the outcomes with public housing. Does it help or hurt the Poor? This video reveals the answer.

Wednesday, June 26, 2013

Printing More Money: Will that create more Wealth?

Will printing more money solve an economic crisis? If so, why not just print more money? This video explores why this will not work and reveals the side effects of this action.

The Truth About Minimum Wage Revealed!

This video reveals the flaws of minimum wage laws. We are told that min wage laws help the poor, but does it? This video debunks this notion.

Tuesday, June 25, 2013

Public Choice and why the Federal Budget will not get Balanced

James M. Buchanan and Kenneth Arrow are two highly distinguished scholars that have done extensive work in the field of Economics called Public Choice. It explores how economics not only plays a role in the private sector, but also in the Governmental sector as well. It reveals the notion of "Politics without Romance". In this video, it touches the tip of the iceberg in how the Federal Budget will not get Balanced, revealing the incentives of the Special interest groups. Kudos go to Ben Powell, Phd for this video.

How Large is the United States Debt?

Antony Davies, Phd explains in this video the amount of United States' debt, as he compares the total debt to other countries' Economic output.

Tricky Dicky and Inflation

"I dont give a good Goddamn what Milton Friedman thinks. He is not running for re-election"~President Nixon.

Most people are not familiar with this quote from President Nixon, they are familiar with Watergate. Some are familiar with his action from removing the United States from the Britton Woods agreement. In lay terms, we were removed from the Gold Standard. Was this a wise Economic move? Or was it a better political move for Nixon? Mr. Detlev Schlichter explores this in his article, "The Triumph of Politics" Here is a key excerpt from this article:

"Since 1971, the number and intensity of banking crises around the world has gone up markedly, according to Carmen Reinhart and Kenneth Rogoff, hardly anti-establishment economists. Debt levels exploded. The ten years up to the start of this crisis in July 2007 have seen house prices in the US rise ten times faster than over the previous one hundred years."

Deflation is it really so Bad?

An excellent article titled, "What's So Scary About Deflation?"  from Frank Hollenbeck, Phd on Deflation. Many mainstream economists fear deflation but love a little inflation. Dr. Hollenbeck rejects this notion. Here is a key excerpt:

"Inflation is much worse than deflation because it robs wage earners and the poor. Central banks are the primary cause of inflation and are the main reason for the growth of income inequalities, as the rich get richer and the middle class sinks toward poverty. This income trend has been self-evident and growing since the demise of the Bretton Woods system in 1971 and its replacement with fiat currencies. Central bank power depends on the ability to generate inflation."