Thursday, February 12, 2009

The People's Stimulus : What's your view?

Michelle Muccio, the Rebel Economist has decided its time to say what we have all been thinking.
We don't need a stimulus plan, just give us our taxes back.

Watch the video and let me know what you think?
If you like, send it to a friend and give us their take.
Leave comments on the video, and best of all, let us begin again our economic lessons for President Obama.

Wednesday, February 11, 2009

Pete Boettke on Obama's Stimulus

On the Austrian Economists blog, Professor Pete Boettke at GMU's Economics Department responds to Obama's outlandish claims during his first Presidential press conference.

Boettke is not known for his short blog posts, but a well said rebuttal it is.

President Obama, GMU is a short trip on the Metro away. You should make it out to one of Boettke's classes; perhaps you'll learn a thing or two.

Monday, February 9, 2009

OBAMA needs to Learn Economics Part 1

"All things are subject to the laws of cause and effect." - Menger

This is not philosophy but truth on causation.
Physics teaches us that energy is neither created nor destroyed.

What do you think free market thinkers speak of when we discuss the market fluctuations?
Whenever there is an interference within the market, it will have to react in order to re-stabilize.
The more you interfere the more the market will have to fluctuate.

What Obama does not understand, is that by the government not interfering within the market the individuals will not have halted. They will still be buying and selling. Their actions will be the cause that effects other's actions. This is how the market fluctuates.

I would like someone to explain to me how this is philosophy, or does someone want to take the side of explaining how government action actually means individual citizens actions.
We act with or without governments actions. Our actions do not need government involvement for them to affect one another.

Let us remember the lesson Henry Hazlitt wanted everyone to learn in his first chapter of Economics in One Lesson.
"The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the con- sequences of that policy not merely for one group but for all groups."

Part Two following shortly on "Government will create more jobs"