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FSN: Trashing The Gold Standard is Now The Stuff Of Amateurs
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Brian Domitrovic
Forbes
In 2008, Ben Bernanke’s and Paul Krugman’s star former doctoral student at Princeton, the economist Gauti B. Eggertsson, published an article in the American Economic Review, the field’s top journal, on the manifest excellence of the New Deal of the 1930s. One of the claims: “1933-1937 registered the strongest output growth (39 percent) of any four-year period in US history outside of wartime.”
The cited source for this statement was the Office of Management and Budget, which does not maintain statistics on “output growth,” or GDP growth, from before 1929. It is not possible to use this source for a claim about “any four-year period in US history.”
As for databases that do include the whole run of U.S. history, those at measuringworth.com show an increase in national output of 43% from 1878 to 1882, a peacetime period.
Continue Reading at Forbes.com…
2013-04-11 09:46:53
Source: http://silveristhenew.com/2013/04/11/trashing-the-gold-standard-is-now-the-stuff-of-amateurs/
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