Liberty Maven

by Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0: How to Profit from the Economic Collapse

During the 1990s, inflationary Federal Reserve policy fueled a tech stock bubble. When that bubble burst, the Fed inflated a larger one in real estate. Now that the real estate bubble has burst, the Fed is inflating the biggest bubble of them all – a bubble in government. While the earlier booms at least provided the illusion of prosperity and some fun while they lasted, the government bubble will cripple the economy and deliver widespread misery to the vast majority of Americans.

Of course, there will be winners in the government bubble, at least for a while. As was the case with the stock and real estate bubbles, plenty of money will be made by the well-connected and parasitic classes. Government employees will continue to enjoy pay raises at our expense, as will anyone benefiting from the new wave of subsidies, such as Wall Street investment bankers, financial speculators, and those working in health care or education.

These gains will come at the expense of the taxpayers who foot the bill and the consumers who face higher prices. As government grows, it deprives the private sector of the resources it needs to survive and grow. The result is a lower overall standard of living. Not only are government jobs less productive than private sector jobs, but bureaucratic interference actually makes the remaining private sector jobs less efficient as well.

Read More »

This comes to Liberty Maven from the excellent political cartoonist, Jerry McCreary. See more of his work at http://whos-your-daddy.us/. I don’t know about you, but seeing the cartoon version of Nancy Pelosi with the “gavel” almost creeps me out more than seeing her in real life.

©Jerry McCreary (Please attribute and link to http://whos-your-daddy.us/)

The three G’s are always important but their demand rises, for good reason, during times of extraordinary economic duress. America is going through such a period right now.

Unfortunately, such times also bring out the crazy and confused too. Recently, we have read about shootings at the Smithsonian and Pentagon in DC. A man flew a plane into an IRS building in Austin, TX. A militia group was arrested for plotting the killing of police officers in an attempt to cause an uprising against the U.S. government.

While some attempt to accuse and reveal loose associations between these lunatics and those of use who truly do believe in liberty, we know the truth. They never were and never will be libertarians. They acted, not in self-defense, but on their own twisted apocalyptic emotions.

Moderation should be the watchword when it comes preparation for a future darker than the past. Working on obtaining the three G’s is a good step in that direction.

Read More »