Some argue that one should not have heroes, truth being its own witness. But truth doesn’t move through the ether by itself, it must be carried and honed and broadcast by people, usually people of courage, and it must be made clear. My heroes have all been great expositors of truth.
Hunt Tooley was born and raised in Vernon, Texas. He graduated from Texas A&M University and did his doctoral work in History at the University of Virginia, where he received his Ph.D. in History in 1986. He taught at several institutions in the southeast before he came to Austin College, in Sherman, Texas, in 1991. He is Professor of History at that institution. He is a specialist in modern European and modern World History, and his research and writing has been focused on issues of war, revolution, and peace in modern times.
Do not avert your eyes. Listen and learn. It’s so important that I wish this blog had a feature that would allow me to auto-post every week forever.
USA Today reports
Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.
At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs — rose to a record high during the first three months of 2010.
Reddit points to Marc Faber’s prediction of 2009 that we should be experiencing hyperinflation by now.
From talking with Shostak, Salerno, Murphy, and others, I think the answer is summed up in these charts. That is to say, it doesn’t matter how much the Fed fills the bank coffers if the banks aren’t lending money. The bitter irony is that economic “recovery” will mark the beginning of the inflationary disaster.
