Mises Weekends shared James Grant’s recent speech about his new book The Forgotten Depression. Mises Institute President Jeff Deist introduced Grant:
[His book] chronicles the so-called ‘forgotten depression’ of 1920 and 1921 under the then Warren G. Harding administration. The reason it’s called the forgotten depression is because it was mercifully short… The Federal government and the young-ish Federal Reserve did the opposite of what they did during the more recent 2008 crash, which is to say they applied real austerity. The Federal government cut spending, it balanced budgets, and the Fed allowed interest rates to rise. As a result, the depression of 1920 and 1921 is but a footnote in history…”
David Stockman, former Director of the Office of Management and Budget under President Reagan, told CNBC that the United States stock market is heading towards another crash. He bashed the Federal Reserve for being completely lost. He believes the Fed is driving the economy towards an even bigger financial crisis than the last one.
Peter Schiff lays out for RT the future he sees for both Greece and China. As China abandons its communist past, he sees the Eastern country continuing to grow as an economy and world trade partner. Meanwhile, Greece’s debt crisis and basically socialist leadership is a stark reminder of the problems facing the West.
In his most recent podcast, Peter Schiff exposes the latest economic hijinks of Washington and Wall Street. The Federal Reserve wants to re-adjust the first quarter GDP to make it look better, while Walmart absurdly blames its terrible earnings on a strong dollar. Meanwhile, Los Angeles becomes the biggest city in the country to dig its own economic grave by passing a $15 an hour minimum wage law.
CNBC’s Trading Nation asked Peter Schiff if he thinks minimum wage hikes in cities like Los Angeles will trigger higher inflation and therefore a rate hike from the Federal Reserve. Peter warned that on the contrary, creating inflation is the business of the Fed, and he expects it to launch another round of quantitative easing before it significantly raises rates.
In his latest Liberty Report, Ron Paul discusses the escalating “War on Cash” with Daniel McAdams. First, they looked at how many more dollars are in circulation today compared to pre-1971, when Nixon closed the gold window. The Federal government, Paul argues, wants to exercise more control over this untraceable cash under the auspices of catching tax cheats and criminals. Unfortunately, it’s the poor who will be most adversely affected by stricter limitations on cash.
USAWatchdog interviewed Hugo Salinas Price, a well-known and highly successful businessman operating in Mexico. Born in the United States, Price is now a passionate advocate for sound money and has been pushing for the Mexican government to adopt monetary silver again. Unfortunately, he sees far too much political pressure against sound money, particularly from the United States. But this shouldn’t stop savers from stockpiling their wealth in real money: gold and silver.
Peter Schiff digs under the surface of the latest economic data. As usual, Wall Street locked onto the headline number last week, which showed the lowest weekly jobless claims in 42 years. Peter asks the question no one else will — is this really the strongest economy America has seen in four decades?
Peter Schiff tackles the latest economic data, which he argues strongly indicates the United States may be on its way into another official recession in 2015. When that happens, Peter expects not just more quantitative easing, but “old-fashioned, Keynesian pump-priming stimulus” in the form of major deficit spending.
John Williams of ShadowStats.com shares Peter Schiff’s expectation of a new round of quantitative easing from the Federal Reserve. Williams believes the United States economy is slowing down and headed into another recession. He sees inflation rising in the coming years as the markets realize that the Federal Reserve is incapable of actually helping the fundamental economy. In this interview with Greg Hunter of USAWatchdog, Williams explains and defends his reasoning.