Defining Austrian Economics and Its Role in American Economic Thought
November 27, 2012
Hosted by Jay Taylor
[Download MP3s: Hour 1:Defining Austrian Economics and Its Role in American Economic Thought Hour 2:Defining Austrian Economics and Its Role in American Economic Thought] [itunes] [Bookmark Episode]
Guest Information
Episode Description
Llewellyn Rockwell joins our show for the first time to talk about the Ludwig von Mises Institute and to help us understand its importance and what lies ahead if its message is ignored. What about the origin of the Mises Institute and the free market views of its namesake? From an Austrian economic perspective, what should the limits of government be both at home and abroad? Ron Paul has done a remarkable job at reeducating Americans toward the virtues of free market economics and motivated our youth to think in those terms. But are there new rising intellects in the Austrian movement that may be able to carry the torch for decades to come? How did our departure from a free market path lead us down the road toward economic depression and into serfdom? Does Mr. Rockwell envision hyper inflation? What can we do to protect ourselves from the poverty that is sure to follow? Your host will also interview Dudley Baker who will talk about how to make money with precious metals warrants.
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Topics to be discussed will include the cause of the decline of: our monetary system and our economy, the housing markets, the equity markets, and commodities, Why gold and silver are rising in value and how investors can profit from the direction of these markets through specific stocks, ETF’s and precious metals will also be discussed. Turning Hard Times into Good Times is broadcast live every Tuesday at 12 Noon Pacific Time on the VoiceAmerica Business Channel.
Jay Taylor
Jay Taylor has been able to more than double his newsletter’s model portfolio from 2000 to the present even as the S&P 500 was in the process of losing 50% of its value!
The insights provided to Jay came from a history professor in 1967 who advised Jay that when countries go off a gold or silver standard, hard economic times are sure to follow because nations begin to think they do not need to work hard and save to enjoy a better life. Indeed there is no free lunch and a gold standard reminds people of that every day.
Jay watched his professor’s prophetic words come true when in 1971, President Nixon completely detached the dollar from gold. Not surprising to Jay, the price of gold skyrocketed in the late 1970s as inflation wiped out vast amounts of wealth from average Americans. To protect his own wealth Jay began to invest in gold and gold mining shares and in 1981 he began sharing his success and insights in his newsletter. In 1981 Jay began writing a subscription newsletter that has earned his subscribers countless thousands of dollars over the years.
Jay’s insights as to the real cause of our problems has enabled him to find investment strategies that work. Diagnose a problem correctly and you have a chance for success. Diagnose a problem incorrectly as the establishment does and you are sure to fail.
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