cheap chinese goods

Minds of most Americans have been corrupted with many economic myths by mainstream economists and so called experts, which are reinforced by the media and often repeated on the streets. These myths are false in most cases, and based on half truths in others. We constantly hear things like: inflation is caused by rising oil prices; consumption is the most important element for economic growth; government expenditures help stimulate the economy; and many others.

In this article, First in a series of two, I will explore some popular myths regarding Inflation and Energy matters. In the second article, I will write for you about common myths about Consumption.

[click to continue…]

Tagged as: causes of inflation, central bank, cheap chinese goods, China, chinese goods, demand, Dependence on Foreign Oil, economic growth, economic myths, energy, energy prices, expensive oil, financial markets, food, foreign oil, higher oil prices, imports, India, inflation, inflation myths, international trade, money supply, oil, oil prices, rising oil prices, supply, supply and demand, united states

{ 3 comments }