After a good deal of thought I’ve decided that my views are better aligned with Austrian economics for the following reasons:
- I want to be wrong about hyperinflation for years on end.
- I think that government spending is always bad and that private spending is always good. In other words, I want to eliminate the government.
- I want to believe that QE creates inflation because reserves will get out of the banking system.
- I prefer to think of “inflation” as a rise in the money supply regardless of the fact that the money supply is just about always rising in a credit based monetary system thereby rendering this concept totally void of value.
Isn’t that enough reason to convert?
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.