Francsico García Paramés notes that economists who focus on near-term forecasting are generally useless to investors. But principles of Austrian economists — and a long-term view in general — can provide insights outside the mainstream.
America's "defense" budget is really more than $1.2 trillion, more than double the Pentagon's official "base budget," once we include all the other related spending like that on "homeland security" and veterans affairs.
It is impossible to force the economic development of society by artificially encouraging investment and initially financing it with credit expansion. This policy can only have benefits if economic actors also elect to begin saving more at the same time.