Economics in a Nutshell
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Summary

Many political lies bury rational economic thought today.

The Federal Reserve bashed the American economy in the year 2000 because investments in the private stock market were paying much more than investments in federal debt (bills, notes, and bonds) at maturity. Their colossal alibi was to slow an 'overheating' economy. But their real purpose was to bring down the stock market and avoid a default of the national debt.

Economies do not overheat. Progressive taxes on personal income are passed to consumers by changes they create in supply and demand. Social security taxes are not shared by employers (corporate costs are forwarded to the market). Labor unions gain buying power by pushing minimum wage labor down (the national wage is finite). And monopolies always require political support. This information, while absolutely true, is not government approved.

A natural economy is superbly controlled by supply and demand. But career seeking politicians create inflation, stagflation, wage gaps, recession, and depression in their gross economic ignorance and self centered pursuit of political careers.

The author explains the economic interactions between private enterprise and political force. The political solution is a return to Laissez Faire. But can politicians arrive at economic truths before economic disaster befalls the nation? The depression Congress could not. And the new Congress is their clone.
Published: Trafford on

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