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I remember reading one of Gary North 's older articles where he was discussing shortages. Mr. North wrote that whenever you hear of a shortage, the first question that should come to mind is: "At what price?" Well, Peter Schiff uses the same line of thinking when discussing the $700 billion...
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The term "Demand Destruction" strikes me as a bit absurd. For example, let's say Bob & Joe are going to make a simple trade. Bob produces apples and Joe gives haircuts. The terms of the trade are 10 apples for 1 haircut. Bob's supply of 10 apples are also his demand . Without the...
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With oil companies earning record profits, there have been calls for a "windfall profits" tax to be placed on them by the government. From an economic point of view, this totally ignores the meaning of profits and losses. Oil company profits are a signal ...If the marketplace could speak, it...
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In Jan. 2007, I was fortunate enough to purchase a Wii from Toys "R" Us. Back then, I never would have thought that the same supply/demand situation would still exist today. They are still very hard to find. One recurring thought that I've had throughout this year is that Nintendo priced...