How An Economy Grows And Why It Crashes
Inspired by How an Economy Grows and Why It Doesn't? a previously published book by the Schiffs? father Irwin, a widely published economist and activist?How an Economy Grows and Why It Crashes incorporates the spirit of the original while tackling the latest economic issues.With wit and humor, the Schiffs explain the roots of economic growth, the uses of capital, the destructive nature of consumer credit, the source of inflation, the importance of trade, savings, and risk, and many other topical principles of economics.
The tales told here may appear simple of the surface, but they will leave you with a powerful understanding of How an Economy Grows and Why it Crashes.
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Defying right- and left-wing boxes, David Stockman provides a catalogue of corrupters and defenders of sound money, fiscal rectitude, and free markets. The former includes Franklin Roosevelt, who fathered crony capitalism; Richard Nixon, who destroyed national financial discipline and the Bretton Woods gold-backed dollar; Fed chairmen Greenspan and Bernanke, who fostered our present scourge of bubble finance and addiction to debt and speculation; George W. Bush, who repudiated fiscal rectitude and ballooned the warfare state via senseless wars; and Barack Obama, who revived failed Keynesian “borrow and spend” policies that have driven the national debt to perilous heights. By contrast, the book also traces a parade of statesmen who championed balanced budgets and financial market discipline including Carter Glass, Harry Truman, Dwight Eisenhower, Bill Simon, Paul Volcker, Bill Clinton, and Sheila Bair.
Stockman's analysis skewers Keynesian spenders and GOP tax-cutters alike, showing how they converged to bloat the welfare state, perpetuate the military-industrial complex, and deplete the revenue base—even as the Fed's massive money printing allowed politicians to enjoy “deficits without tears.” But these policies have also fueled new financial bubbles and favored Wall Street with cheap money and rigged stock and bond markets, while crushing Main Street savers and punishing family budgets with soaring food and energy costs. The Great Deformation explains how we got here and why these warped, crony capitalist policies are an epochal threat to free market prosperity and American political democracy.
The one real difference between the American press and the Soviet state newspaper Pravda was that the Russian people knew they were being lied to. To expose the lies our media tell us today, controversial journalist James O’Keefe created Project Veritas, an independent news organization whose reporters go where traditional journalists dare not. Their investigative work–equal parts James Bond, Mike Wallace, and Saul Alinsky―has had a consistent and powerful impact on its targets.
In American Pravda, the reader is invited to go undercover with these intrepid journalists as they infiltrate political campaigns, unmask dishonest officials and expose voter fraud. A rollicking adventure story on one level, the book also serves as a treatise on modern media, arguing that establishment journalists have a vested interest in keeping the powerful comfortable and the people misinformed.
The book not only contests the false narratives frequently put forth by corporate media, it documents the consequences of telling the truth in a world that does not necessarily want to hear it. O’Keefe’s enemies attack with lawsuits, smear campaigns, political prosecutions, and false charges in an effort to shut down Project Veritas. For O’Keefe, every one of these attacks is a sign of success.
American Pravda puts the myths and misconceptions surrounding O’Keefe’s activities to rest and will make you rethink every word you hear and read in the so-called mainstream press.
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