there's only one school of austrian economics and that's the new school of austrian economics. ok all right professor thanks so much for you come by anytime but we have run a time off to say goodbye and thanks so much for being on the show well thank you very much into the great closer look squinting you actually all right that's all the time we have for this edition of the kaiser wait for with me max kaiser and stacey ebert like to thank our guest professor for cats at a for cancer research dot com if you'd like to contact us you can e-mail us at kaiser reported r t t v dot are you or tweet us at kaiser reporting so next time ask how does a bio. technology innovation all the developments around russia. for the future are covered.

karl mangere who is the founder of austrian school and louis van mieses the economist with the most american austrians would be familiar so i set you up with a the bond bubble collapse was foretold in austrian school but b. what's the difference between mangere and luke on these is to put it simply. did not believe in the quantity theory of money which is just a model which is just too if you like. to understand but muses is a poor first quantity theories and he said it has to be in the find it has to be modified to little but basically is the right idea there is. equilibrium prize my guess is no the markets create these equilibrium and there are two prices bid and all for. no you only buy a single prize monolithic forget it but isn't it leans more on this thing called subjectivity whereas mieses is trying to quantify what mangere would say is subjective then isn't there a bit of an attempt to quantify something that manner saying is unquantifiable and ineffable absolutely meaningless one point i want to make that that's my point all the people out there the trolls that have been tro

well as far as i'm concerned there's only one school of austrian economics and that's the new school of austrian economics. ok all right professor thanks so much for come by any time but we had rather time off to say good bye and thanks so much for being on the show well thank you very much into the great pleasure let's continue actually all right that's all the time we have for this edition of the kaiser wait for with me max kaiser and stacey everett like to thank our guest professor for cats at a for cancer research dot com if you'd like to contact us you can e-mail us at kaiser reported r t t v dot are you or tweet us at kaiser report until next time ask either side by a. secret lab or tour. was able to build the world's most sophisticated robot which doesn't sound anything tunes mission to teach creation why it should care about humans. this is why you should care only on the dot com. choose your language. the consensus. the opinions that invigorating. the stories get in. access to.

well as far as i'm concerned there's only one school of austrian economics and that's the new school of austrian economics. ok all right professor thanks so much for coming by any time but we have run a time off to say goodbye and thanks so much for being on the show well thank you very much into the great pleasure let's continue actually all right that's all the time we have for this edition of the kaiser wait for with me max kaiser and stacey everett like to thank our guest professor for cats cancer research dot com if you'd like to contact us you can e-mail us at kaiser reported r t t v dot are you or tweet us at kaiser reporting so next time ask out and buy a. good speech. and. wealthy british. markets why not. find out what's really happening to the global economy. for a no holds barred look at the global financial headlines tune into kinds a report on our. my. life.

well as far as i'm concerned there's only one school of austrian economics and that's the new school of austrian economics. ok all right professor thanks so much for come by any time but we at rabaa time want to say goodbye and thanks so much for being on the show well thank you very much into the great pleasure let's continue actually all right that's all the time we have for this edition of the kaiser wait for with me max kaiser stacy everett like to thank our guest professor for cats affair cancer research dot com if you'd like to contact us you can e-mail us at kaiser reported r t t v dot are you or tweet us at kaiser reporting so next time ask. do we speak your language of the will or not a day in. your news programs and documentaries and spanish what matters to you breaking news a little tune into. stories. are you here to. teach spanish more and more visit. all tito's comb. live . live. live live live live. live. live. live live. live . there are twelve cities in the united states in which half of the people with hiv aids lives within a year of a diagnosis of. over sixty two pe

his work and he was very active in the seventies and eighties is there a connection between the austrian school is that a good model to look at in terms of where we are with this money printing and possible that collapse. the austrian business cycle theory as it's portrayed to everyone who would be watching the show for example is that you extend credit too much whatever that means and you get the retraction afterwards and. there's no limit to the volume of credit that an economy can handle what happens is when you left that credit incorrectly in the sense of lending out short term money on a longer term basis you know say for example if you go to a four year mortgage you know you're actually that's being financed on at most one year money so every time a year comes up you have to refinance the mortgage but the actual maturity of the mortgage is much longer than any of the duration of any of the funds that's being used to to fund it or let me jump in because you're describing what some would call the problem of duration risk and in the case of central banks they've got a lot of debt on their bo

a signal in terms of what school they're from and in the case of yourself to your broadly speaking austrian economist through and mark carney i think we it's hard to put him into let's say a school but he's awfully from a neo liberal chicago school milton friedman type of. economist who believes in the the sanctity of economics is a hard science and let me ask you the study uses the term for example of the u.k. economy needs to. achieve escape velocity and i think i know what he means by that but escape velocity is a term from physics and has a very specific meaning as an algorithm for a rocket to achieve escape velocity isn't this another example of an economist trying to sound like he knows what the hell he's talking about absolutely i can't disagree with that i mean what what what what on earth does this cape philosophy mean in the context of economics if it doesn't mean anything i think what it's what he's trying to say is that the economy needs to grow and to grow the economy we need to print more money and are willing to sacrifice the risk of having any inflation to create this growth

a signal in terms of what school they're from and in the case of yourself to your broadly speaking austrian economist through and mark carney i think we it's hard to put him into a school but he's definitely from a neo liberal chicago school milton friedman type of economist who believes in the the sanctity of economics as a hard science and let me ask you the study uses the term for example of the u.k. economy needs to. achieve escape velocity and i think i know what he means by that but escape velocity is a term from physics and has a very specific meaning as an algorithm for a rocket to achieve escape velocity you know isn't this another example of an economist trying to sound like he knows what the hell he's talking about. absolutely i can't disagree with that i mean what what what what. does this cape philosophy mean in the context of economics if it doesn't mean anything i think what it's trying to say is that the economy needs to grow and to grow the economy we need to print more money and are willing to sacrifice the risk of having any inflation to create this growth but the problem

his work and he is very active in the seventies and eighties is there a connection between the austrian school is that a good model to look at in terms of where we are with this money printing and possible that collapse. the austrian business cycle theory as it's portrayed to everyone who would be watching the show for example is that you extend credit too much whatever that means and you get the retraction afterwards and. there's no limit to the volume of credit that an economy can handle what happens is when you left that credit incorrectly in the sense of lending out short term money on a longer term basis you know say for example if you go to a four year mortgage you know you're actually that's being financed on at most one year money so every time a year comes up you have to refinance the mortgage but the actual maturity of the mortgage is much longer than any of the duration of any of the funds that's being used to fund it or let me jump in because you're describing what some would call a the problem of duration risk and in the case of central banks they've got a lot of debt on their boo

his work and he was very active in the seventies and eighties is there a connection between the austrian school and is that a good model to look at in terms of where we are with this money printing and possible that collapse. the austrian business cycle theory as it's portrayed to everyone who would be watching the show for example is that you extend credit too much whatever that means and you get the retraction afterwards and. there's no limit to the volume of credit that an economy can handle what happens is when you live that credit incorrectly in the sense of lending out short term money on a longer term basis you know say for example if you go to a four year mortgage you know you're actually that's being financed on at most one year money so every time a year comes up you have to refinance the mortgage but the actual maturity of the mortgage is much longer than any of the duration of any of the funds that's being used to fund it or let me jump in because you're describing what some would call a the problem of duration risk and in the case of central banks they've got a lot of debt on their

his work and he was very active in the seventies and eighties is there a connection between the austrian school is that a good model to look at in terms of where we are with this money printing and possible that collapse. the austrian business cycle theory as it's portrayed to everyone who would be watching the show for example is that you extend credit too much whatever that means and you get the retraction afterwards and. there's no limit to the volume of credit that an economy can handle what happens is when you live at credit incorrectly in the sense of lending out short term money on a longer term basis you know say for example if you go to a four year mortgage you know you're actually that's being financed on at most one year money so every time a year comes up you have to refinance the mortgage but the actual maturity of the mortgage is much longer than any of the duration of any of the funds that's being used to fund it or let me jump in because you're describing what some would call a the problem of duration risk and in the case of central banks they've got a lot of debt on their books

studio world renowned mathematician and monetary scientist professor on talf a cat of the new austrian school of economics and for cancer research professor welcome to the kaiser report thank you my it's a pleasure to be here people are extremely excited to have you on the show and others have copied you but it was you who pioneered the importance of observing the gold basis as a sign of global financial distress explain gold basis and what is currently telling us about the global financial system you should think of the gold being the most sensitive. to anywhere ever. a lot of people talk about the prize that is being manipulated well i tell you the good news is cannot be manipulated what is the basis for it break it down for us i tell you the base is very simply the difference between the cash price of gold and the future price of gold because there's a cash market for gold and there's a futures market and the prices diverged and the difference is very very sensitive and it tells you a whole story which would take several lectures to explain but. we. are talking about his specific coolie is

studio world renowned mathematician and monetary scientist professor on talf a cat of the new austrian school of economics and for cancer research professor welcome to the kaiser report thank you my it's a pleasure to be here people are extremely excited to have you on the show and others have copied you but it was you who pioneered the importance of observing the gold basis as a sign of global financial distress explain gold basis and what is currently telling us about the global financial system you should think of the gold be the most sensitive. to anywhere ever. a lot of people talk about the prize that is being manipulated well i tell you the good news is cannot be manipulated what is the basis for break it down for us i tell you the basis is very simply the difference between the cash price of gold and the future price of gold because there's a cash market for gold and there's a futures market and the prices diverged and the difference is very very sensitive and it does the whole story which takes several lectures to explain but what we. are talking about here specifically is the neares

but the fiscal cliff is going to be resolved i think is overhyped i happened to come from the austrian school of economics we look at what the federal reserve is doing in terms of money printing and they've been shoveling a lot of money at the big banks and into the system and we're seeing the effects of that in terms of a higher stock market in time in terms of higher food and gas prices for you and me now will death there's no doubt about the fiscal cliff been overhyped. but you know it's it's not the government's job necessarily to create jobs but yet they just close down this job council office i mean what what should we see the government do to really remedy the situation the government needs to get out of the way and stop trying to you know they need to let markets clear which is basically say's law and economics if you get out of the way you stop trying to mess with prices and even wages are a form of prices then the markets will take care of themselves so the government needs to get out of the business of meddling with everything will wait. theirs and the markets is going to regulate

but the fiscal cliff is going to be resolved i think is overhyped i happened to come from the austrian school of economics we look at what the federal reserve is doing in terms of money printing and they've been shoveling a lot of money at the big banks and into the system and we're seeing the effects of that in terms of a higher stock market in time in terms of higher food and gas prices for you and me you know will death there's no doubt about the fiscal cliff been overhyped. but you know it's it's not the government's job necessarily to create jobs but yet they just close down this job council office i mean what what should we see the government do to really remedy the situation the government needs to get out of the way and stop trying to you know the thing to let markets clear which is basically say's law and economics if you get out of the way you stop trying to mess with prices and even wages are a form of prices then the markets will take care of themselves so the government needs to get out of the business of meddling with everything will wait. theirs and the markets is going to regu

it but the fiscal cliff is going to be resolved i think is overhyped i happen to come from the austrian school of economics we look at what the federal reserve is doing in terms of money printing and they've been shoveling a lot of money at the big banks and into the system and we're seeing the effects of that in terms of a higher stock market in terms of higher food and gas prices for you and me you know with death there's no doubt about the fiscal cliff been overhyped. but you know it's it's not the government's job necessarily to create jobs but yet they just close down this job council office i mean what what should we see the government do to really remedy the situation the government needs to get out of the way and stop trying to you know the thing to let markets clear which is basically say's law and economics if you get out of the way you stop trying to mess with prices and even wages or for prices then the markets will take care of themselves so the government needs to get out of the business of meddling with everything we'll wait but. they're saying the market is going to regulate it

but the fiscal cliff is going to be resolved i think it's overhyped i happen to come from the austrian school of economics we look at what the federal reserve is doing in terms of money printing and they've been shoveling a lot of money at the big banks and into the system and we're seeing the effects of that in terms of a higher stock market in time in terms of higher food and gas prices for you and me you know will def there's no doubt about the fiscal cliff been overhyped. but you know it's it's not the government's job necessarily to create jobs but yet they just close down this job council office i mean what what should we see the government do to really remedy the situation the government needs to get out of the way and stop trying to you know the thing to let markets clear which is basically say's law and economics if you get out of the way you stop trying to mess with prices and even wages or for the prices then the markets will take care of themselves so the government needs to get out of the business of meddling with everything we'll wait but. they're saying the market is going to r

world renowned mathematician and monetary scientist professor at telford kept out of the new austrian school of economics and for cancer research professor welcome to the kaiser report thank you max it's a pleasure to be here people are extremely excited to have you on the show and others have copied you but it was you who pioneered the importance of the. observing the gold basis as a sign of global financial distress explained gold basis and what is currently telling us about the global financial system you should think of the gold being the most sensitive moment in the kids or anywhere ever. a lot of people talk about the gold prize that is being manipulated well i tell you the gold business cannot be manipulated what is the basis for break it down for us i tell you the basis is very simply the difference between the cash prize to go and the future price of gold because there's a cash market for gold and there's a futures market and the prices diverged and the difference is very very sensitive and it does the whole story which takes several lectures to explain but we want we. are talking a

but the fiscal cliff is going to be resolved i think it's overhyped i happened to come from the austrian school of economics we look at what the federal reserve is doing in terms of money printing and they've been shoveling a lot of money at the big banks and into the system and we're seeing the effects of that in terms of a higher stock market in time in terms of higher food and gas prices for you and me you know with death there is no doubt about the fiscal cliff been overhyped. but you know it's it's not the government's job necessarily to create jobs but yet they just close down this job council office i mean what what should we see the government do to really remedy the situation the government needs to get out of the way and stop trying to you know the thing to let markets clear which is basically say's law and economics if you get out of the way you stop trying to mess with prices and even wages are a form of prices then the markets will take care of themselves so the government needs to get out of the business of meddling with everything will wait. theirs and the markets is going to reg

studio world renowned mathematician and monetary scientist professor talf the cat of the new austrian school of economics and for cancer research professor welcome to the kaiser report thank you my it's a pleasure to be here people are extremely excited to have you on the show and others have copied you but it was you who pioneered the importance of observing the gold basis as a sign of global financial distress explain gold basis and what is currently telling us about the global financial system you should think of the gold base is the most sensitive. to. ever. a lot of people talk about the prize that is being manipulated well i tell you the good news is came out the manipulating what is the basis for break it down for us i tell you the base is very simply the difference between the cash price of gold and the future price of gold because there's a cash market for gold and there's a futures market and the prices diverged and the difference is very very sensitive and the whole story would take several lectures to explain but what we. are talking about here specifically is the nearest future

but the fiscal cliff is going to be resolved i think it's overhyped i happen to come from the austrian school of economics we look at what the federal reserve is doing in terms of money printing and they've been shoveling a lot of money at the big banks and into the system and we're seeing the effects of that in terms of a higher stock market in time in terms of higher food and gas prices for you and me you know will death there's no doubt about the fiscal cliff been overhyped. but you know it's it's not the government's job necessarily to create jobs but yet they just close down this job council office i mean what what should we see the government do to really remedy the situation the government needs to get out of the way and stop trying to you know the thing to let markets clear which is basically say's law and economics if you get out of the way you stop trying to mess with prices and even wages or for the prices then the markets will take care of themselves so the government needs to get out of the business of meddling with everything we'll wait but. they're saying the market's just goin

but the fiscal cliff is going to be resolved i think it's overhyped i happen to come from the austrian school of economics we look at what the federal reserve is doing in terms of money printing and they've been shoveling a lot of money at the big banks and into the system and we're seeing the effects of that in terms of a higher stock market in time in terms of higher food and gas prices for you and me will def there's no doubt about the fiscal cliff been overhyped. but you know it's it's not the government's job necessarily to create jobs but yet they just close down this job council office i mean what what should we see the government do to really remedy the situation the government needs to get out of the way and stop trying to you know the thing to let markets clear which is basically say's law and economics if you get out of the way you stop trying to mess with prices and even wages or for the prices then the markets will take care of themselves so the government needs to get out of the business of meddling with everything we'll wait but. they're saying the market is going to regulate i

. >> you are familiar with the austrian school. >> you and i discussed this before. >> which one do you prefer? >which school? [laughter] >> i think the consensus view in economics is that when -- what people think of as keynesian economics, the answer is important questions about what will happen in the economy and when unemployment is high but the consensus also thinks that over the medium and long term, when unemployment is not so high, we think of neo-classic economics. >> thank you very much. >> gentleman from wisconsin -- >> is a pleasure to be on the committee, especially with someone from wisconsin. mr. ryan and a share a county back home. one of the top priorities that i look at is how we can create more jobs right now to get things going and that is the best way to get out of the deficit situation. before being here and watching the news, it seems like all they ever talk about his deficit reduction as the economic plan as if congress cannot walk and chew gum and i think we can do both. how we grow the economy to help create we had to approve every stimulus dollar that came thr

i sincerely doubt that she's had time between movies to study the keynesian economics versus austrian school week and i believe i thought that in the united states that the whole idea of a representative democracy was that any man or woman could become. an elected official because i mean you should be you know tom i mean i should i should i think i think this is all missing the point that it's not going to go anywhere this is not going to go to and you know what she is hurting her own party because some a real cain and it's going to come up and you know and they're going to have expelled all this all this effort on on this faith you think ron has you know has a mere going to get steamrolled you think karl rove's strategy is to actually promote her candidacy by attack yes because she's not going to do it she's not going to do it they're wasting all this is. the cameras you know she's so she's not going to run in your opinion as. that that's what she i'm on the record she's ok we will we will not on the record. thank you both thank you so much it. is just. it's the good the bad of the very ver