I was listening to Bloomberg radio on XM today and I heard a comment which irked me a great deal.
An “economist” interviewed on Bloomberg radio says Swiss unemployment is "in trouble". He said Swiss unemployment is in trouble because of its strong currency.
Has this so-called economist been paying attention to the Swiss economy? The Swiss economy is booming! Their exports are up. Manufacturing is growing at a rapid pace. Most importantly, unemployment is at a 5-year low – that’s right, a five year low - at the time I’m writing this.
What is the current environment that is fostering the Swiss’s high-growth economy? Whether people want to believe it or not the biggest reason is a sound money policy.
Wait a minute, some would say: this isn’t possible! A weaker currency means a more vibrant economy! A strengthening currency cannot equate into a vibrant economy these people would say, since then other countries cannot buy as much of the economy’s products.
It turns out the economist I referred to who was on Bloomberg and many others are wrong. The Swiss are living proof of why they are wrong – they are the current proof. Look back in history and you’ll see other economies who had a sound-money policy like the current-day Swiss who also had vibrant economies. Actually America pre-1960’s was one of these economies. America pre-1960’s had a sound money policy which was a large factor for its vibrant economy.
Hmm…maybe America should take a page out of what the Swiss are doing.
Note: America has structural problems which is also hindering growth. This is to say that the fact we do not have sound money does not directly translate into a stunted economy. Rather it is to say that sound money will help growth, as in the case with the current-day Swiss economy.
The Swiss have Universal Government run Health Care. THEY'RE COMMIES! America is too EXCEPTIONAL to build on what works in other countries.
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ReplyDelete"America is too EXCEPTIONAL to build on what works in other countries". I don't like that argument. What is the harm in doing what is proven to work, as the Swiss are? I have no problem with doing what history has shown to work, and that is having a sound money policy.
ReplyDeleteIn fact having a sound money policy would benefit us, history shows. Did you know the US dollar has lost 95% of its value since 1971? It's the truth...and the US gov't continues to debase the US dollar, giving its citizens less and less purchasing power day by day.
This is why I say America should do what works even if it's working or has worked for another country. At the very least America needs to stop doing what history has proven NEVER works to benefit an economy, which is inflating its money supply.