A potential bleak outlook for the world economy.
"The Kondratieff Winter"
financialsense.com
If you have any money left, consider buying some gold and silver miners, on a day when the "recovery" is announced.
Everyone should learn what they can about economics.
"Economics deals with society's fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen."
Ludwig von Mises
mises.org
A central question to this thread: "Is fiat money a successful medium of exchange?". History points to lots of problems. Would a fully backed medium of exchange, where all money is solidly backed by assets such as gold lead to a better way of life for both the USA, Europe and the rest of the world?. Some think the answer to the question is so obvious it's trivial. "Old fashioned" currency just would not work today. They also point to shortcomings like it "reduces growth potential". Others point out that assets like gold can be exchanged using modern methods like "e-gold", and that there are potential catastrophic scenarios for the worlds fiat currencies.
"e-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage."
e-gold.com
Could this be the next world wide currency??
Schools of Thought
cepa.newschool.edu
Every school of thought is like a man who has talked to himself for a hundred years and is delighted with his own mind, however stupid it may be.
(J.W. Goethe, 1817, Principles of Natural Science)
The only way we can pull the general economy out of todays swamp is to first agree what the problems are and then decide on the correct solution.
There is only one solution. The best one. It's time to make economics a real science where people don't just argue over B/S.
To ensure the topic subject matter is fully addressed, financial conspiracy theories are wellcome here. They have to pass certain criteria though...
(a) They must have some factual evidence to back them up or..
(b) They must be inovative and amusing.
Some grounding in economics is suggested. If you find economics rather dull and boring here is a good place to start.
amazon.com
It's a great read and full of conspiricy theories plus loads of facts. Better then most novels. Truth is stranger then fiction. A good book to understand the basics of money and finance too.
OK you can quote Von Mises, Keynes, and whoever, but do remember this is a moderated thread. Overposting on a particular issue, or repeated displays of bad conduct to other contributers may result in suspension from the thread.
A candid discussion will be tolerated though, even encouraged. It doesn't matter how wrong or right you are, once we learn and understand is the important item.
I am interested in a new science "Econophysics". Pareto is my hero.
cepa.newschool.edu
Nobody can argue with his work. It's been true for centuries. In every country for every economy.
science-finance.fr
(press on links to get graphs)
worldlink.co.uk |
