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Tag Archives: consumer
Robert Murphy on the Double Dip
I’d like to come to Murphy’s defense regarding inflation and offer some points on the possibility of a double-dip. For the time being, I predict a continuation of the upward inflationary trend. We are seeing a greater destruction than production of wealth, as it flattens the structure of production. This is a trend towards impoverishment, not recovery, and does indicate the possibility of an increase in the rate of change of CPI. Continue reading
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Tagged Bubble, consumer, debt, Depression, dip, double, expenditure, Great, index, inflation, Investment, price, Private, production, public, Recession, stagflation
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Consumer Credit and the Theory of the Cycle
Economist Jesús Huerta de Soto explains the role of consumer credit in the formation of the business cycle, in accordance with the Austrian theory. From his book, “Money, Bank Credit and Economic Cycles”. Continue reading
Roots of Inflation
On 21 July 2009, Chairman of the Federal Reserve Ben Bernanke defended himself from Ron Paul’s accusations of promoting inflation by defining inflation as an increase in the consumer price index. hrough this definition, Bernanke purported to refute Ron Paul’s own definition—Austrian definition—that inflation referred to an increase in the money supply. Ron Paul’s definition of inflation is, in fact, the most accurate definition of the word. Continue reading