Why Free Markets are the Only Solution to the Global Economic Crisis - Nathan Lewis #5413

Summary: FSN has always analyzed economics, but we are currently facing economic insanity. The gold standard is now more relevant than ever, and Nathan Lewis comes on the show to talk about global phenomena that have been taking place; the world market economy has experienced much change over the years, and a Keynsian governmental perspective is prevalent. Tune in for more. Highlights: -Lewis has been writing for 17 years now. He started with what was known and expanded -We’ve seen inflation kick in, and expansion of the government into the economy -The Magic Formula outlines the fundamental recipe that made the whole world wealthy: stable money and low taxes -Between 1994 and 2016, nominal GDP in US dollars in China grew by 26 times because they had the ‘magic formula’ -This tapered off when China took a more authoritarian stand -We’ve been in an economic predicament with the Chinese for many years, and have more recently discovered this -The flood of new labor onto the world market economy came due to the lifting of communism and strict trade agreements -Advances in communication allowed more things to be produced in China rather than the US, which created struggles for US workers -We should have all the components of a major industrial economy contained in the United States -China does have a legitimate claim to Taiwan -The Canadian trucker movement is spreading -There are now Austrian devotees that see the value in free markets -The internet can amplify these messages and make them more universal -We’re kind of in the era of Keynsian government with big governments Useful Links: Financial Survival Network New World Economics Nathan Lewis – Time to Cut the Federal Government in Half Nathan K. Lewis – Is the Gold Standard Our Salvation?