Local athletes advance to track and field regionals SBAAC awards baseball, softball, boys track and field First Team all-stars SHAC awards baseball all-stars Lady Broncos finish as SW District Div. II runner-up Lady Warriors cap off season as SE District Div. III runner-up Impressive post-season tourney run reaches end for Lady Rockets Rose M Crone Thousands visit Traveling Vietnam Veteran’s Memorial Wall Strategies discussed to join Maysville/Mason County KY with Brown Co. communities for economic growth Road and bridge work planned in county Linda M Lawson Margaret G Newkirk Gregory R Dunn Sandra L Haitz Wesley A Cooper Everette F Donell Lady Broncos move to SW District Div. II finals Lady Rockets top Cincy Christian 22-1 to earn berth in district finals Lady Warriors head to SE District Div. III finals with win over Gallia SW District Track and Field Tourney action gets underway Russell E Conn Robert T Fisher Philip L Paeltz David Beals Gregory A Smith II William G Mullinnix Patricia Ogden Brittany Stykes remembered by friends and family 2018 county budget could be cut by up to ten percent Georgetown Police Chief updates council Over 40 vendors, crafters at 2017 Annual Craft Show Cropper’s time as GHS girls basketball coach expected to end after 21 years at the helm Barnes’ perfect game and big hits lead Lady Broncos to round one sectional win Broncos advance in sectional play with win over Mt. Healthy Kenny B Williams Stephen E Marcum Christopher J Lovett Brandon M Traylor Gaslight renovations set to begin Ripley students view mock crash at school ‘Angela’s Curbside Cuisine’ taking area by storm Fisher sentenced to 17 years for child porn possession Fundraiser for Russellville 200th Celebration May 6 Warriors claim SHAC Div. I title in ‘run rule’ fashion Vilvens’ grand slam caps off Lady Rockets’ win over G’town Rockets lead SHAC Div. II at 9-4 WBHS dedicates new softball press box Rodney E Berry Charles D Rice Jr Erma D Painter Alma Cordes Ronald D Latham Some Georgetown School staff members will be armed this fall Local Democrats host Jerry Springer at dinner Chamber of Commerce discusses development Gerald P Morel Lady Broncos capture softball program’s 5th straight SBAAC American Division title Warriors on top in SHAC Division I standings Lady Broncos take first in Western Brown Track Invite Rockets leading way in SHAC Div. II James E Newman Paul E Funk Alan Hanselman Robert V Nash III Frances L Poole Minnie E Fisher Donovan M Pope Irvin E Stiens Myrtle L Lane Ralph L Davidson August J Pace Carl R Brown Phyllis J Beard Lady G-Men complete sweep of Tigers in SBAAC Nat’l Division G-Men pluck Cardinals, 6-4 Warriors climb to 4-1 in SHAC with victory over North Adams Broncos rally in 7th for 5-4 win over Batavia Blue Jays still in search of first win Three million dollar jail expansion planned Higginsport enforcing speed with camera Unemployment rate falls in county, southern Ohio Varnau not restricted from talking online about Goldson case Rockets fall to 4-1 in SHAC with loss to North Adams Bronco tennis team tops Bethel-Tate, 5-0 Lady G-Men rise to 7-4 with win at Goshen Lady Broncos’ big bats hammer out 11-0 win over Batavia G-Men showing improvement Keith Shouse Diane L Steele August Hensley Louise R Murrell Fire strikes Mt. Orab Bible Baptist Church Grant Days 2017 attractions Man accused of sex crime, giving pot to kids Ten indicted by Brown County Grand Jury 5th Annual Rick Eagan Memorial 5K Run/Walk coming up in May Birds of Prey Three sentenced in common pleas court John H Young II Sally A Gibson

What markets are telling us

Last week US stock markets tumbled yet again, leaving the Dow Jones index down almost 1500 points for the year. In fact, most major world markets are in negative territory this year. There are many Wall Street cheerleaders who are trying to say that this is just a technical correction, that the bottom is near, and that everything will be getting better soon. They are ignoring the real message the markets are trying to send: you cannot print your way to prosperity.

People throughout history have always sought to acquire wealth. Most of them understand that it takes hard work, sacrifice, savings, and investment. But many are always looking for that “get rich quick” scheme. Monetary cranks throughout history have thought that just printing more money would result in greater wealth and prosperity. Every time this was tried it resulted in failure. Huge economic booms would be followed by even larger busts. But no matter how many times the cranks were debunked both in theory and practice, the same failed ideas kept coming back.

The intellectual descendants of those monetary cranks are now leading the world’s central banks, which is why the last decade has seen an explosion of money creation. And what do the central bankers have to show for it? Lackluster employment numbers that have not kept up with population growth, increasing economic inequality, a rising cost of living, and constant fear and uncertainty about what the future holds.

The past decade has been a lot like the 1920s, when prices wanted to drop but the Federal Reserve kept the price level steady through injections of easy money into the economy. The result in the 1920s was the Great Depression. But in the 1920s prices were dropping because of increased production. More goods being produced meant lower prices, which the Fed then tried to prop up by printing money. Unlike the “Roaring 20s” however, the economy isn’t quite as strong today. It’s more of a gasp than a roar.

Production today is barely above 2007 levels, while heavily-indebted households already hurt during the financial crisis don’t want to keep spending. The bad debts and mal-investments from the last Federal Reserve-induced boom were never liquidated, they were merely papered over with more easy money. The underlying economic fundamentals remain weak but the monetary cranks who run the Fed keep trying to pump more and more money into the system. They fail to realize that easy money is the cause, not the cure, of recessions and depressions. They didn’t realize that prices needed to drop in order to clear all the bad debt and mal-investments out of the system. Because they don’t realize that, we are on the verge of yet another financial crisis.

Don’t be confused by any stock market rallies over the next few months and think that the worst is over. Remember that after Black Tuesday in 1929 the Dow Jones rallied over the next year before it began slowly and steadily to sink again. The central bankers will do everything they can to delay the inevitable. If they had allowed housing prices to fall in 2008 and hadn’t bailed out the big Wall Street banks, the economy would have corrected itself. Yes, it would have been a severe correction, but it would have been nothing compared to the inevitable correction that will present itself when the Fed runs out of easy money options. The Fed may try to cut interest rates again, maybe even going negative, or it will do more quantitative easing, but that won’t work. Creating more money does not lead to economic growth and well-being. The more money the Federal Reserve creates, the more ordinary Americans will end up suffering.

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2016 News Democrat