Casey Given Makes an Economic Prediction
Over the last few months, I have been following the news closely as the U.S. economy has gone into a recession. Although many public figures have claimed that this recession was unpredictable, they are utterly wrong. As a close follower of prominent libertarians, I have noticed that public figures like the newly famous economist Peter Schiff (who is also a Cal alumni) and Dr. Ron Paul predicted the downfall of the banking system and the housing crisis years before the disasters of September, 2008. The following two videos are proof of their shockingly accurate predictions they made years before the crises of 2008:
In the last few months, both Dr. Paul and Mr. Schiff have been making more chilling predictions regarding inflation. The two have been outspoken critics of the Federal Reserve’s injection of $3 trillion into the U.S. economy to pay for it’s massive bail-out programs. The two have both asserted that this printing of money from thin air will lead to hyperinflation and only make the U.S.’s economic situation worse. Having heard these predictions and looking over the history of the economic collapse of the U.S.S.R. and Japan, I firmly believe they are correct. Therefore, I wish to make a prediction.
I, Casey Given, predict on June 30, 2009 that within the next three years the currency of the United States will experience hyperinflation as a result of the Federal Reserve’s reckless injection of over $3 trillion into the economy, thus causing a financial situation even worse than the one at present.
Why do I make such a prediction? I believe that such a forecast can add to my knowledge (and other’s) wether i am right or wrong. If I am wrong, than I will learn not to have such faith in free-market economists, and learn that maybe Keynesians like Paul Krugman and the Obama administration might have some validity to their plans. However, if I am right, I will only affirm my beliefs that free-market capitalism is the most efficient economic policy. Also, if I am right, I hope this post will be a testament to others of the truth behind free-market ideals. If I am right, I hope that others will learn that the status quo is not acceptable and that freedom is the only solution.
June 30, 2009 at 1:49 pm
It ’s a perfect writing. Thank you.
July 3, 2009 at 12:35 am
I have to agree completely with that prediction as stated above. I too have also thought about this. This has been in the history books before. What happened to learning from the past? Does our government not realize that germany did that same thing by literally handing out money? and what happened? Kids on the street would play with stacks of worthless money because they had nothing else to do with it! You sure as hell couldn’t spend it so you mightus well make a shelter or something out of worthless paper. After all that, they eventually recovered. Eventually.
If school taught us to learn from our personal and ancestral past in order to move forward and progress mankind, then what is our government doing? Regressing to a state that has been tried and failed obviously. Change, Obama, is indeed what we needed, but what change you have been doing doesn’t seem promising to me.
July 6, 2009 at 9:28 pm
That was a very well-thought comment Brian. It is unbelievable that our government hasn’t learned their history. Every major failed economy (pre-Nazi Germany, Japan, the U.S.S.R., Zimbabwe) has all done the same thing: ran the printing press. Today we have a currency that is literally paper money. They say that money doesn’t grow on trees, but today is does… literally. The Federal Reserve has the unchecked power to print as much as they want which is eminently lead to further doom.