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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.

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Most recent update: Aug 28th, 2016 - 14:59:07

Newsletters : Current Newsletters : 22 August 2016
Thought for the Day

The American bond market is in a 200 year bubble.

The UK bond market is in a 300 year bubble.

The Europeans can only keep things going by introducing negative interest rates into their bond markets.

Janet Yellen is considering her options.

This has never been done before and the Central Bankers are just running a gigantic experiment.

Does anyone think this is normal?

So what are we in New Zealand doing about it?

Nothing. As far as I can see.

The cost of New Zealand money has edged down to 2% with negative outlook.

We are borrowing a lot of money at the moment.

The world debt clock shows we are now borrowing $110 billion. About 50% of GDP.

We still have wriggle room but what is our strategy?

When I listen to Central Bankers and see what they do it seems to me that they have no strategy other than to keep on doing what brought them to this current condition. That is, some more Keynesian pump priming.

Keynes theories have been shown to be wrong by many knowledgable economists and predictions made by Central Bankers based on these theories do not work out in practice. As Alan Greenspan noted, "Just because we have been wrong with our last 14 GDP predictions doesn't mean that we won't be right for our 15th."

The basic models developed by Central Banks do not reflect reality. Therefore any deductions made from these models will not be in accordance with reality either. No matter how esoteric the mathematics involved. This is just a basic property of mathematics and part of the art of applying maths to the real world.

Unfortunately the whole of economics has been carefully promoted to hide reality and to make us think that paper money and managed markets are as good as using real money (gold and silver) and free markets.

We are confused into thinking that Crony Capitalism is as good as REAL Capitalism. It is not. Crony Capitalism produces very rich oligarchs who conspire with the BIG Bankers to run monopoly enterprises with guaranteed profits and never mind the value of the products that are foisted on us. (Think Monsanto and the Pharmaceuticals.)

The purpose of this gigantic fraud is to make the BIG Money owners of the Federal Reserve incredibly rich and all their cronies just very rich.

All at our expense.

The final day of reckoning is approaching.

Listen carefully to Egon in the next article explain just where we are on the time scale towards hyperinflationary doom.


Aug 22, 2016, 14:13

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