Peter Schiff, president of Euro Pacific Capital and former Republican Senate candidate, appeared on CNBC this week to discuss gold and inflation. It was another lively interview because the host and the guests concurred that there was no inflation (the government’s reported numbers were 1.8 percent), but Schiff took down the idea. In the interview, […]
Archives for January 2013
Seven reasons why the U.S. will never pay down the debt
If anything will cause America’s economic collapse it will be its astronomical debt. Although the leadership in Washington is in the preliminary process of negotiations regarding the debt ceiling, the United States federal government has already exceeded the debt limit of $16.39 trillion by more than $23 billion (at the time of this writing). Officials […]
Chart: Unemployment rate by education in 1992 vs. 2012
Common Sense Capitalism published a short video last week that compared the unemployment levels by the category of education between 1992 and 2012. Right now, the official unemployment rate is at 7.8 percent, but as ECN has reported in the past that the number is at least in the low-20s. Here are the figures from […]
Milton Friedman: Abolish the Federal Reserve
Austrian Theorists and Chicago Economists can rejoice! LibertyPen published a 1994 interview with Nobel laureate Milton Friedman, who told the interviewer that he has been long in favor of abolishing the Federal Reserve, citing its poor record of performance, such as doubling prices, creating an economic collapse in 1921 and maintaining policies that initiated a […]
Poll: Americans think government could trigger economic collapse, default on debt
Although United States President Barack Obama and the Republican leadership settled on a fiscal cliff deal, the American people are still not confident in the federal government and its abilities to handle economic matters that could harm their personal financial situation. According to a new Ipsos-Reid/Reuters online poll released Tuesday, last week’s agreement in Washington […]