The Stimulus Trap

Economic Commentary by Peter Schiff

For years we have been warned by Keynesian economists to fear the so-called "liquidity trap," an economic cul-de-sac that can suck down an economy like a tar pit swallowing a mastodon. They argue that economies grow because banks lend and consumers spend. But a "liquidity trap," they argue, convinces consumers not to consume and businesses not to borrow. The resulting combination of slack demand and falling prices creates a pernicious cycle that cannot be overcome by the ordinary forces that create growth, like savings or investment. Read More >>

Well Meaning But Flawed

Libertarianism: the radical idea that other people are not your property!

I was recently sent an email from a local businessman who railed against the anti-business mentality of the current Democratic administration. He described in some detail how Barack Obama doesn't have a clue as to how businesses create things including jobs. No argument there. He details the utter incompetence of agencies like the IRS, the gross misapplication of unemployment benefits and of course our favorite non-government, government agency, the U.S. Postal service (made private by Republican Richard Nixon of course). I'm sure he could have made a longer list but brevity is after all a virtue. He goes on to show how we spend more than we take in and how a private family doing the same thing would quickly go belly up. Again, he's just talking about what constitutes responsible behavior. He then concludes that the solution is to elect a select group of conservative tea party folks with business experience or at least business knowledge and who presumably, along with others of like mind, will put the country on the right track.

While well meaning, let me address each of these points in some detail.

Read more ...

Gun Owners Refuse to Register Under New York Law

After Democrats in New York rammed a sweeping assault on the right to keep and bear arms through the legislature that failed to exempt police officers from the draconian restrictions, gun owners and even some lawmakers are planning what has been dubbed potentially the largest act of civil disobedience in state history. According to news reports, gun rights activists are urging everyone to defy far-left Governor Andrew Cuomo’s new registration mandate while daring authorities to “come and take it.”

Mr. Schiff Goes to Washington

 Peter Schiff knocks it out of the park in front of the Congressional Job Committee.

Read more ...

The Beginning of the End?

Peter Schiff calls the latest move by the Fed, "Operation Screw".  A man that eloquent should be listened to!

A Run on the State

"History teaches us that history teaches us nothing."
~ Hegel

So far, Hegel seems to be right. Cycles come and cycles go — especially in terms of economics and liberty. Those who observe and remember, can discover, analyze, and predict the next cycle while the majority of the people remain in the dark, repeatedly surprised by avoidable calamities.

Jefferson killed a bank. Jackson killed a bank. Now it's our responsibility to untold generations to stand up and throw off the shackles of yet another criminal syndicate with the respectable sounding name: "Federal Reserve Bank."

Read more ...