Why you should read "Meltdown"

Iceland went under, Austria's banks are about to collapse, and England is teetering. The news from China is just as bleak: 70,000 factories have closed in the last few years, and the unemployed from those closings has hit 20 million. Why?

The root cause is that every country now, following our foolish lead, has an inflating central bank. The favorite tool of these banks: fiat currency. Fiat means "of nothing." So all of this supposed "money" is simply paper backed by nothing.

Thomas Woods, one of the best historian/economists in the country, has come out with a great, relatively short book that explains it all. Meltdown: A Free Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse.

If you read it, you will know more than over 95% of the people in the U.S., and then you can figure out and implement a plan to save your investments and yourself. A small price to pay in these turbulent and scary financial times.

Socialized medicine in Japan fails again

Socialism doesn't work because economic calulation is impossible because of the lack of prices. Socializing goods and services leads to long lines, shortages, higher taxes, less quality, and ultimately, rationing.

As you can read here in this article, the socialized hospitals in Japan killed a man because they wouldn't accept him. He was turned down by 14 hospitals! Gee, I can't wait until Obama gives us "change we can believe in" and implements full-blown socialized medicine, I mean "universal health care," here in the America. Not!

Keynesian economics is dead

Well, at least it should be. But the government rolls it out, year after year, teaching it in the schools and using it to "guide" us to prosperity. Well, we know how that's turned out. As Hans Herman-Hoppe stated in his The Misesian Case Against Keynes:

I will show that Keynes's new economics, like that "underworld" tradition, is nothing but a tissue of logical falsehoods reached by means of obscure jargon, shifting definitions, and logical inconsistencies intended to establish a statist, anti-free-market economic system.

Why is the U.S. economy in bad shape? Because of the Federal Reserve, its fiat currency, and devotion to Keynesian economics. When, and only when, we are able to free ourselves from paper money backed by nothing and the cranky economics of Keynes will we be able to return to true prosperity.