Although the entire story certainly isn’t told, such as the causative factors of the economic collapse, the charts I link to below illustrate quite well some of the symptoms of an ailing economy that is not showing signs of improvement. The labor force participation rate has been dwindling even though there continues to be many […]
Should the United States default on the national debt?
For most in the mainstream of economics and the political establishment the idea of the U.S. government defaulting on its obligations is simply unthinkable. No one will admit that default is likely, much less actually entertain the idea as a viable solution to the debt crisis. Well Doug Casey, author of the new book Totally […]
Swedish version of the IRS suggests society would crumble without taxes
Tom Woods recently posted a video over at his blog of a commercial from Sweden produced by their version of the Internal Revenue Service. Tom remarks: “This video, from the Swedish version of the IRS, shows what the world would supposedly look like without taxes. All soccer fields would be left to deteriorate. Filth would come […]
Bitcoin: Can a private digital currency circumvent the government?
In a fascinating interview Tom Woods talks with Erik Voorhees of BitInstant about Bitcoin. Bitcoin is a digital currency as well as a global payment network for that currency. It is not unlike other currencies around the world like the dollar and euro but with the important exception that it is private and there will […]
$100,000 pledged to food bank for Paul Krugman to debate an Austrian economist
There are two major competing schools of thought in economics today. Keynesianism (named after the economist John Maynard Keynes) is the predominant dogma advising governments and central bankers around the world and has been for decades. Keynesians such as Paul Krugman and Chairman of the Federal Reserve Ben Bernanke advocate fiscal and monetary stimulus programs […]