The Price Of Gold On December 30, 2011 - By Jeff Clarke (3/8/11) PDF Print E-mail
Jeff Clarke   
Wednesday, 03 August 2011 08:36

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The Economics Of Coupons And Other Price Cuts - By Robert P. Murphy (3/8/11) PDF Print E-mail
Robert P. Murphy   
Wednesday, 03 August 2011 08:17

Mises Daily

My local grocery store has an affiliated gas station that offers ten cents off per gallon for every $100 spent on groceries. I provoked a discussion on Facebook by asking whether I should use my accumulated points every time I fill up the tank, or whether it makes more sense to only use the option periodically in order to get a bigger discount.

We quickly agreed that so long as I only fill up when my tank is nearly empty, I should always use the points available. In other words, there is no advantage in strategically holding on to my points.

This was what I had been doing, and the exercise was mostly just a nod to the serious economics geeks who have befriended me on the social network. What concerned me, however, was that some people — presumably fans of Austrian economics — thought there was something fishy in the whole concept of price discounts.



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Important Debt Ceiling Update - By National Inflation Association (2/8/11) PDF Print E-mail
National Inflation Association   
Tuesday, 02 August 2011 09:28

President Obama just announced late this evening that a deal has been reached to cut government spending and raise the debt ceiling in order to avoid a debt default. If the deal is approved on Monday, it will raise the debt ceiling by between $2.1 and $2.4 trillion in three installments: $400 billion immediately, $500 billion this fall subject to a disapproval vote by Congress, and $1.2 to $1.5 trillion more after a special committee agrees on a matching amount of spending cuts that will be in addition to $900 billion in spending cuts proposed in the bill. With no tax increases included in this plan, all of this additional debt will eventually be monetized and paid for through monetary inflation.
 
Although the deal is supposed to cut as much as $2.4 trillion in spending over the next decade, Obama said that none of the spending cuts will occur anytime soon so that not to derail the phony economic recovery. That's right, none of the cuts will come until early 2013 and by then we will need to once again raise the debt ceiling to north of $20 trillion. If our elected representatives were serious about cutting spending, they would have the bulk of the spending cuts now and not in the future when many of them will be out of office.
 
This deal is a complete and total sham, and will do nothing to prevent hyperinflation. In no way will these spending cuts be mandated and nothing will force future Congresses to abide by them. Even with these cuts, government spending is going to increase every single year for the next decade. As price inflation spirals out of control in the years ahead causing the purchasing power of the dollar to plummet, all government employees will demand higher salaries and it will cost more to run all parts of the government. Future Congresses will raise spending and make the spending cuts proposed in this deal meaningless.
 



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This Country Defaulted Long Ago - By James Quinn (2/8/11) PDF Print E-mail
James Quinn   
Tuesday, 02 August 2011 09:25

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Silver – A Historical Comparison - By Willem Weytjens (2/8/11) PDF Print E-mail
Willem Weytjens   
Tuesday, 02 August 2011 09:21

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