teapartyeconomist.com / By Gary North / March 2, 2013
My former partner (Mauldin) and my former stock broker (Schiff) square off. This is the way to get issues clearer.
It’s muddle-through economics vs. the Austrian theory of the business cycle.
My view: it’s time to prepare personally for the impact of the Austrian theory of the business cycle by taking advantage of Bernanke’s monetary muddling.
Keynes will lose this war in retrospect. Fiat money will not fund at zero social and economic cost the massive federal deficits that are justified by economists who claim to be extending Keynes’ legacy, but who in fact have no theory, merely ad hoc justifications of the relentless bureaucratization of the economy by means of the Federal Reserve System.
Mises long ago won this analytical war. But people will not believe this until it comes out of their hides. It will. The question is: How soon?
Cambridge House, Published on Feb 25, 2013
An epic debate about the creation and preservation of wealth featuring Rick Rule, Peter Schiff, John Mauldin and Grant Williams. The highlight is a classic faceoff between Peter Schiff and John Mauldin that takes place around 7:30 in and goes on for several minutes and really heats up at 9:30.
The debate took place February 24, 2013 at Cambridge House’s California Resource Investment Conference in Palm Springs.
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