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I think the deficit is getting too big for the international financial markets. This fictitious finance is already bigger than the real economy. I must say too that the fed is doing a great job hiding this huge deficit from becoming inflationary. But obviously, this is a ticking bomb.

If I am not mistaken helicopter bernanke has been pumping trillions into the economy.

You have an interesting capacity to analyze 100 yrs. Specially in banking. I am impressed.

Excellent point. Now............I dont know of a single country which does not use FRL and has central bank.

LIKE ONE OF YOU SAID "WITHIN THE AUSTRIAN SCHOOL, THERE ARE THOSE ON LEFTIST POSITION AND THOSE ON THE RIGHT" Interesting though. Anyways: I think we all agree that FRL is fraud system to keep us under debt. and government is way over its scope of practice.

I do not believe we can not have a full reserve system. Although such undertaking could take decades to avoid harming the economy. What we can do right now is to increase the reserve %. The lower the reserve requirement, the more dangerous FRL is and vice-versa.

Thank you for clarifying my statement. You are correct and you also made a good point.

Well...........economics is a social science being always politically abused. But no other school of economic thought (aside from Marx) gets so involved in a social political order. Mises called his "human action" study "praxeology". He proposes a non government world......otherwise...

And your point is.................

Mathematics is not economics. Actually the difference is enormous. Yet mainstream schools make almost no distinction from math to eco. Austrian are usually correct on their analysis because they follow the main idea of economics. Now I am talking about qualitative vs. quantitative analysis...

I think you summarized better than anyone else. However I would rewrite your sentence like this. "Austrian economics is not just economics-it is also a social-political theory." I do believe they have a correct economic analysis. From 1 to 10 i would give them a 9. But as I said, sadly...

A couple of weeks ago I was talking to my instructors about economics. One of them knew that I like Austrian Economics and asked me about them. Soon a whole conversation developed about Austrian Economics. Most of them found the Austrian view very interesting but called the school a...

Indeed. Some people need to be taught basic supply and demand. And the monopolistic aspect of our economy. Thanks God this is a British paper. Who care about the British anyways??

Buy Bank of America stock. It will go UP!!!

Well I am speechless. from this moment on you speak English and I Russian.

there is nothing easier to do than a bookkeeping entry. WALL STREET 5,000,000.00 MAIN STREET .......................5,000,000.00

I wish I had some $ to buy Gold. I knew prices were picking when gold was less than 300.

no smart guy. we needed to start from there because i think we understand differently both concepts. inflation and deflation are increases in the money supply or decreases in the money supply. rising prices or declining prices has nothing to do with inflation and deflation. Prices...

Sure...........can you tell me what deflation and inflation are??

LETS STOP GUYS lets begin by defining inflation and deflation. I think we know different in these two terminologies.