I recently watched the critically acclaimed independently produced movie, “Blue Collar Boys” by director/producer Mark Nistico. What I experienced was an emotional ride with a blue collar family struggling to keep their construction business alive during the 2008 financial meltdown. The viewer can see, first hand, how such misguided Fed policy and political maneuvering damaged working families, both economically and emotionally. Read the rest of this entry »

Janet Yellen recently gave her first press conference as the new Fed Chair-person. Being the stalwart Keynesian that she is, emphasis was given on the Fed’s targeted inflation rate. One of the problems here being in how modern economists define inflation. Over the course of history inflation has gone through a type of metamorphosis as to what is actually being inflated. Read the rest of this entry »

Screen-Shot-2014-03-17-at-7.52.28-PMThe Austrian School of Economics has been at the forefront of price theory. Beginning with Carl Menger, the founding patriarch, through others such as, Böhm-Bawerk, Mises, Hayek, Rothbard, Lachmann, Kirzner and more have advanced the theory of prices. It is generally accepted that prices are a function of supply and demand. But, there’s more. Read the rest of this entry »


It is apparent that some who advocate for the Austrian School of Economic Theory haven’t quite grasped the basics tenants of Austrianism. One of the basic tenants is the Mengarian theory of subjective value. One of those advocates is none other than Peter Schiff. Read the rest of this entry »

One of the fundamental laws of economics is that human beings act on incentives. People make choices to act everyday, all the time. The choices they make, are without fail, whether they will be left better or worse off. As a matter of fact, people remain inactive until they have made their choice whether the next action will leave them better or worse off. Consider this, you are sitting in your chair. You’re stomach growls. The choice crosses your mind whether to get up, go into the kitchen and make a sandwich or remain seated and continue to watch the game on TV. Only you know which choice will leave you better off. This is because the marginal value of putting the effort forward to make a sandwich or continue watching the game is subjective. The point is, a choice WILL be made. This is one of the defining attributes that make us human. We act by design, not by instinct. Read the rest of this entry »

Blogging.2.resizedHow many have gotten themselves into that usual Twitter or maybe Facebook debate about “capitalism” or “the free market” with someone who doesn’t even understand the definition of the terms? It can be equally frustrating because these social media environments aren’t really suited for an honest debate. When anonymity is introduced during any discussion, the lesser person will usually revert to either name calling, generalities or at minimum, copy and paste Salon.com or Huffington Post articles to counter your every point. Read the rest of this entry »

Main stream economics teaches that deflation is a bad thing, while inflation is beneficial if held to a certain level. How this arbitrary level is ascertained is known only by those who believe in their macroeconomic models. Just what is inflation and deflation? Read the rest of this entry »