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- It took a lot of chutzpah for Pres. Obama to double the national debt, then in his #SOTU address take credit for having reduced the deficit!
- SRSrocco put together a graph tracking production for the top-four gold producers. You will note a pretty consistent downward trend. If these forecasts hold, we are looking at a 23% drop in output over less than a decade. http://bit.ly/2I5FJVb http://bit.ly/2D3w91e
- South Koreans On Track to Buy Record Amount of Physical Gold @SchiffGold http://bit.ly/1VZFUmr
- Gallup's U.S. Economic Confidence Index averaged -12 in July, down from - 8 in June, hitting its lowest average since Oct. 2014.
- @toozoned50 of course. But he won't ask.
- Which States Rely Most on Federal Spending?
- @Macrotots Yep, Its the what have you done for me lately mentality. Also Dems will argue Obama deficits were necessary to get us out of recession, but that Trump deficits caused problems as the economy was growing when they were run up.
- Even with an upward revision to Q1, the annual growth rate of U.S. GDP in the 1st half of 2015 was just 1.45%
- Buchanan on Knight
- China Calls for New Global Reserve Currency to Replace Dollar @SchiffGold https://t.co/PmZH6Zr8SV
Thursday, October 22, 2015
Question about solutions to unemployment/inflation
Now, as far as I understand it, one of the main criticisms of Keynesian/classical economics is that of only looking at one side of the equation, whether it be the short run in a Keynesian perspective or the long run in a classical perspective. That classicals ignore the problems of today, while Keynesians don't plan for the future. So what is the Austrian solution to this? If we are in a downward sloping economy, what would be the solution to cut down on unemployment or in an upward sloping economy to avoid inflation?