Cowboy Economist Tells Us How the Government Finances Its Deficits

We are not borrowing money from China...... What the Government is doing is creating its own financing to activate idle resources. Just like the private sector does.The Cowboy Economist (aka John Harvey Ph.D.) In this video lesson, the Cowboy Economist explains how the federal government finances its deficits. But before you watch this, you really … Continue reading Cowboy Economist Tells Us How the Government Finances Its Deficits

Cowboy Economist Tells Us How the Private Sector Finances Its Deficits

Did you know commercial banks create money out of thin air every time they loan money? You may have thought that when you take out a $30,000 car loan, the banks takes $30,000 from their vault, and loan you other people's savings. This is not the case. They literally create $30,000 out of thin air, … Continue reading Cowboy Economist Tells Us How the Private Sector Finances Its Deficits

Cowboy Economist Tells Us How to Recognize a Socialist

The Cowboy Economist is John Harvey, PhD, who has started making really funny educational videos about econonmics. They're worth sharing, so I am. John draws a distinction between big S socialism (Karl Marx) and small S socialism (Bernie Sanders) in a way that clearly distinguishes them. The two definitions are below. As he says, they're … Continue reading Cowboy Economist Tells Us How to Recognize a Socialist