.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Search

Contact:
Foundation for Economic Growth,
P.O. Box 10-282,
Wellington, N.Z.
Email
The Foundation for Economic Growth is a group of like-minded individuals who have decided to act rather than accept New Zealand's continuing poor economic performance. The Foundation is not affiliated with any political party. Add Your Comments here.

Add your email address here
Most recent update: May 27th, 2016 - 12:07:07

Newsletters : Current Newsletters : 23 May 2016
Thought for the Day

In his essay of 1850, “What Is Seen and What is Not Seen” Frédéric Bastiat had this to say:

"In the economic sphere, an act, a habit, an institution, a law produces not only one effect, but a series of effects. Of these effects, the first alone is immediate; it appears simultaneously with its cause; it is seen. The other effects emerge only subsequently; they are not seen; we are fortunate if we foresee them …

There is only one difference between a bad economist and a good one:

- the bad economist confines himself to the visible effect;

- the good economist takes into account both the effect that can be seen and those effects that must be foreseen.

Yet this difference is tremendous; for it is almost always the case that when the immediate consequence is favorable, the later consequences are disastrous, and vice versa.

Hence it follows that the bad economist pursues a small present good that will be followed by a great evil, while the good economist pursues a great good to come, at the risk of a small present evil."


This describes the economists we are training up to work in our Welfare State. They understand something of a paper money system but nothing of reality which is now looming behind them.

They steadfastly refuse to face the REAL threat but continue fiddling with the immediate effects of printing more money.

They and their banker mates are always printing more money into existence because they cannot print money out of existence. They have no other tool.

This provides governments with a continuing supply of fresh credit so that they can pay for their promises of the past.

They are programmed to be unable to see the truth about the world economy because that would mean denying all their very expensive University education and a lifetime of work doing exactly the wrong thing.

Such a reversal in thinking is just not possible for the "well-trained" mind.

BUT as Einstein pointed out, "We cannot solve our problems with the same thinking we used when we created them."

We need people who can think, and have not been brain-washed in academia, to solve our economic problems.

As Alan Greenspan said in, Gold and Economic Freedom in 1966 (When he was free to tell the truth - and did!):

"An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense - perhaps more clearly and subtly than many consistent defenders of laissez-faire - that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other."

As John Maynard Keynes said in 1946, shortly before he died:

“I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.”

So if we want freedom and prosperity we must learn to think again and cast aside the thinking that has caused the frightening prospect that we now face and stop creating ever more credit and live strictly according to our means.

This is not an easy task.

The only way it is possible to do this, given the frailty of human character, will be to use gold and silver as money.

The first step in this direction is for our government to start building up our reserves while the price is still ridiculously cheap and to prepare for the change-over when the hyperinflation strikes.

Unfortunately it is very unlikely that any government will be able to muster up the intestinal fortitude to do the right thing and explain it to the public.

So it is over to you to save yourself.


May 23, 2016, 13:56

Creating Wealth and Keeping it

The New book by Phil Scott, President of the Foundation for Economic Growth.

"This book is good, damn good and no statistics!" Lindsay Gordon, MA, MSC, PHD.

Every serious economics student should have a copy and read this ground-breaking foundation of clear economic thinking. Real Economics explains how human actions shape our world and why so much seems to be going wrong for Western economies. This book will bring enlightenment for the general reader who will see why a few very wealthy are becoming exceedingly rich and the middle classes are on the road to serfdom.

See more: www.realeconomics.co.nz