Every 2012 contender attended college. They all graduated. They went to schools like the University of Pennsylvania, Columbia, Texas A&M, Morehouse, Penn State and Emory. But decades have passed since these Presidential candidates first stepped onto campus as freshmen. Is it time for an Econ 101 refresher course? America's Econ 101 professors say yes. In their view, the candidates continue to offer ideas and policies that wouldn't pass muster in their classes – populated by 18 year-old college students. "There are so many economic 'misstatements' being made," said Jonathan Lanning, a professor at Bryn Mawr who is teaching two introductory economics classes this semester. "And it isn't confined to any one candidate." ... Another professor who teaches at the University of North Carolina at Chapel Hill, Michael Salemi, was able to identify statements from six candidates that "would earn failing grades in my Econ 101 class." Salemi called Ron Paul's rationale for returning to the gold standard "one of the most dangerous ideas put forward by a politician in recent years." – CNN Money
Dominant Social Theme: When it comes to economics, Ron Paul doesn't know what he's talking about.
Free-Market Analysis: So here comes Dr. Michael Salemi to defend central banking from Ron Paul. And where does his defense appear? On CNN, of course, the pre-eminent US media mouthpiece for the Anglosphere power elite.
The more CNN sinks in the ratings, the more support it gets. It's kind of the anti-news channel in this regard or perhaps the media's most prominent example of the Peter Principal (outside of AOL, another elite-controlled outfit). CNN is constantly failing upward, along with CIA-trained Anderson Cooper.
This statement by Salemi (see article excerpt above) is especially egregious. Ron Paul has written books on free-market economics and was a close friend of the great libertarian economist Murray Rothbard who along with Lew Rockwell founded the Mises Institute.
Today, the numbers of Ludwig von Mises Google cites rival those of the Fabian fraud, John Maynard Keynes. Free-market thinking has swept the world, magnified by the megaphone of communications technology and the Internet Reformation. What's Salemi ever done other than to offer up misinformation to overly-trusting students?
This is nothing but a big dominant social theme of the power elite. The meme is simple: Central banks are a natural progression of the money system and anyone who contradicts them is being foolish and economically illiterate.
This isn't true, of course. Central bankers FIX the supply of money by deciding on its volume and price. Price-fixing never works. It merely transfers wealth from those who produce it to those who have not and don't have any idea of how to deploy it efficiently. That's why lottery winners are always going broke and why the government itself – a price-fixing machine – can never get anything right.