IMF calls for a socialist EU

SocialismThe IMF–whose mandate for existence ceased when the US went off the gold standard in 1971…yet, like Dracula, it still walks the earth, sucking the lifeblood of more victimes–has recommended that the EU become one, big socialist union in order to fight the scourge of deflation.  God forbid that deficit countries “suffer” deflation, whereby their costs of production fall and the nation becomes more competitive.  Fighting deflation has become one of the world’s greatest fallacies.  Deflation is GOOD.  Lower prices are GOOD.  This is how an individual and an entire nation recovers.  In his seminal book America’s Great Depression Murray N. Rothbard explained how Presidents Hoover and FDR insisted on propping up prices during the Great Depression, which only prolonged the misery.  Jorg Guido Hulsmann explains the economic theory involved in this short book Deflation and LibertyPatrick Barron

This entry was posted in News/ Lessons. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s