My friend Peace (The Life Repairman) just wrote on his blog about an article on Economics by L. Ron Hubbard. I just read it (the LRH article) and it is awesome. It was written in 1966 when another empire (Britain) was hitting the financial skids and it describes a very similar situation.
The article demystifies much about economics, for example:
1. An INFLATION exists where there is more money in circulation than there are goods.
2. A DEFLATION exists where there are more goods than there is money to buy them.
So what do you think the current mad creation of money by the Federal Reserve is going to produce?
Another quote from the article, which is referring to Britain in the 1960s, but is very pertinent to the current situation in the US:
A very proper course for the country would be to abandon the empire no citizen of that country cares about any more, cutting off all its support and defense funds for lands that hate the British anyway. Then, or at the same time, engage upon a furious research program to discover how to produce food enough for its people, let down all its trade barriers, cancel the projects that make income tax vital and prosper beyond all imaginings.
Ever wondered what the real differences are between capitalism, socialism and communism? Well this article will tell you in very understandable terms and I think the answer will surprise you.
There is a lot more said in the article. You can find it here: Economics by L. Ron Hubbard