A Brief History of the Beginning of the 21st Century

End the Fed Ron Paul Best Price: $1.12 Buy New $8.53 (as of 10:10 UTC - Details)

We are all a bit stupid about the economy. That is because economics really is the dismal science – except for two groups of people: Ron Paulites, along with Andrew Jackson, the natural enemies of fiat money, and George Sorosites, ambitious malefactors of great wealth who in this age of get rich quick schemes want to get even richer quicker.

Most of the rest of us fell asleep in economics class when the talk turned to inflation, deflation and fiat money.

We thought fiats were cars.

Human Action, The Scho... Ludwig von Mises Best Price: $10.37 Buy New $40.95 (as of 07:55 UTC - Details)

George Soros, the sugardaddy of the left best know as a short-buyer who broke the bank of England, and Austrian economist Ludwig von Mises, were wide awake in class. So was Peter Schiff, now running for the US Senate against too long-time incumbent Chris Dodd.

Von Mises, the author of Human Action, still the best economic book in our fragile Western world, died with empty pockets; Soros continues to rake in the dough. He will die a rich man, his mouth stuffed with dollars rather than earth, after the last trumpet blows over him.

Crash Proof 2.0: How t... Peter D. Schiff Best Price: $1.50 Buy New $3.97 (as of 10:46 UTC - Details)

Schiff is the economic Cassandra who warned us all, during the last heady spendthrift days of frat boy President George Bush’s administration, that we were about to crash on the unforgiving rocks of reality.

No one paid him the least mind. And as he traveled from TV station to TV station spreading his dismal message, the rest of us shooed him away and tut tutted him unmercifully.

“Economic crash? Man, wake up. Thou art living a dream. Smell the flowers. They are all around us. The economy is – how do you put it? – SOUND in its essentials.”

But Schiff was right, as such annoying people often are.

The country was reeling like a drunken sot, from economic bubble to economic bubble; and, as happens sometimes when one has drunk life to the lees, all of us finally crashed into the brick wall.

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January 4, 2010