I have been very interested in subscribing to shadowstats.com, run by John Williams, but the fee is too high for me right now. Anyway, this guy seems to be a respectable economist/statistician in the Austrian economics circle. And from what I've seen and read so far from numerous sources, his numbers are definitely very different from the official numbers that the US government provides.
I've also read another book called the Dollar Crisis by Richard Duncan. It's a book full of such data as well, and the numbers from these 2 guys agree with each other. Those numbers are compelling, and using them, one can can explain past economic booms and recessions very very very well, and needless to say, predict the future.
And oh, one more guy: Gerald Celente from trendsresearch.com. I've already subscribed to his newsletter. Got a 50% discount from his website!
These people have been predicting economic activities for years, with great accuracies. If they've been wrong, they would have been out of business by now.
One wonders how the mainstream economists and analysts get to retain their jobs over all these years, considering how wrong they had been. You need not do more than to search for a few Youtube videos, and look at the wrong predictions that they've made over and over again over the years. One suggestion for your Youtube search engine: "Peter Schiff was right".
These great teachers of mine ( Jim Rogers, Gerald Celente, Peter Schiff, Ron Paul, Richard Duncan, Tom Woods, Marc Faber) follow Austrian economics. Our current system of Keynesian economics is ultimately unsustainable, and highly damaging to society, as I've repeatedly explained in my earlier posts. Also, one has to keep in mind that our current monetary system is less than 40 years old. Already, there're way too many loopholes. Unprecedented number of bank failures, unpredictable business environment, huge fluctuations in FOREX, the too-big-to-fails, are just some of the results of this system. Austrian economics can explain these perfectly. Keynesian economics, on the other hand, will strive to explain that this is part of the process, not wanting to confess that Keynesianism was what created all these mess in the first place. One just needs to understand Austrian economics to realise how simple economics really are overall. As I've mentioned before, a good place to start will be: http://mises.org/money.asp
I love quotes, and here's a nice one:
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion or a later as a final and total catastrophe of the currency system involved."
Ludwig von Mises – Austrian Economist (1881- 1973)
I love quotes, and here's a nice one:
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion or a later as a final and total catastrophe of the currency system involved."
Ludwig von Mises – Austrian Economist (1881- 1973)
Happy New Year Everyone
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