SchiffGold’s It’s Your Dime features “straight talk” interviews with movers and shakers in the world of precious metals, investing and economics.
In this episode, host Mike Maharrey talks with economist Bob Murphy about his Contra Krugman book, how Keynesian economics goes off the rails, the time Paul Krugman ridiculously compared HealthCare.gov to UPS, the trade war, the gold standard and the Great Depression, Bob’s favorite Krugman flip-flops, and more.
One of the biggest enduring economic myths is the notion that the minimum wage laws only help workers and have no real negative effects. The fallacy inherent in this line of thinking becomes immediately clear if we simply propose a $1,000 per hour minimum wage. After all, if $15 is good, $1,000 would be fantastic, right?
Of course, nobody would pay somebody $1,000 per hour to perform a low-skill task. It’s obviously unaffordable. A $15 per hour minimum is just as unaffordable.
Does gold still matter?
A lot of people dismiss gold and precious metals as irrelevant to the world monetary system. But how can money be irrelevant?
Liechtenstein-based Incrementum AG managing partner Ronald-Peter Stöferle joined Mises Institute president Jeff Deist to talk about all things gold, including why it is still money and an important part of the global financial system.
The International Monetary Fund dissed the dollar in its annual External Sector Report, saying the greenback is overvalued.
According to a Reuters report, the IMF report also said that “nearly half of global current account balances are now excessive, adding to growth risks and trade tensions.”
Some people claim gold isn’t “sound” money any more than dollars or euros. They argue that the gold supply can be inflated just like a fiat currency. After all, gold is constantly being pulled out of the ground, right? They say a gold standard actually makes the boom-bust cycle worse. But commentators who make this claim miss a number of important points.
SchiffGold’s It’s Your Dime features “straight talk” interviews with movers and shakers in the world of precious metals, investing and economics.
In this episode, host Mike Maharrey talks with Dan Kruz, the man behind DK Analytics.
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
You can say, “Everything is great,” all you want. But if it isn’t, it isn’t.
Pundits and politicians keep trying to talk up the economy. They might be able to keep optimism running high for a while, but at some point, expectations will run headfirst into economic reality.
In his most recent podcast, Peter Schiff argued that nobody is ready for the long-term pain that’s ahead. That’s because the mainstream is mostly ignoring the warning signs. By-and-large, the message you’ll get watching CNBC or Fox Business is that “everything is great!” Peter has been hammering on this theme. In an earlier podcast, he noted that everybody is still optimistic about the economy because the stock market is so high.
Global wealth increased to a new record of $280 trillion in 2017, according to Credit Suisse Global Wealth Report 2017. That seems like pretty good news until you consider global debt is increasing nearly three times as fast.
As the saying goes, “Insanity is doing the same thing over and over again, and expecting different results.”
Albert Einstein is usually credited with that statement, although there isn’t any proof that he ever said it. Nevertheless, it’s certainly a good working definition of insanity. And by that definition, I have to conclude that socialists are insane.
