Mish, as usual your numbers are all excellently accurate. However, every extant economic theory from libertarianism to socialism is flawed and their attempts to resolve the problems of modern economies come to nothing because they fail to perceive the deepest problem thereof which is the monopolistic paradigm concept which private banking wields, namely Debt Only as the sole form and vehicle for the creation and distribution of new money. Break up that monopoly paradigm by strategically integrating the new paradigm of Monetary Gifting into the economic process and the problems of chronic inflation, chronic austerity of individual demand and hence austerity of free and clear money to purchase every enterprise’s goods and services and a host of additional benefits will be possible. The last monopoly paradigm we had to deal with was Salvation Via Roman Catholic Sacraments ONLY and that lead to The Reformation. We require a monetary reformation.

FB: I wonder if you might gift me a vacation house, somewhere nice, please? I’d be very thankful, at least for a while. Also, the appliances should be new.

Me: Very funny, but thats not what I’m doing (gifting the total price of a vacation home)…only three quarters of the price and yet every commercial agent gets its full price so there’s no moral hazard involved. Sneering is always an indicator of someone with ego involvement in an old and invalidated orthodoxy.