The reason that “all the economic jargon thrown around gets a little confusing,” is because all of mainstream media and the political class have become Keynesians (been so for a long time too). Oh, and because most journalists simply don’t know what the hell they’re talking about.

Austrian economics in reality, is nothing more than the theoretical and intellectual evidence that what you know intuitively is indeed correct. For example, you know that you have to save and invest, not spend and borrow, to improve your personal economic situation. You also know that counterfeiting money is bad, because it dilutes the value of your own dollars. Well, both are correct whether we’re talking about your family, a business, or a government.

Deficits are bad both at home and in government. When the Federal Reserve prints (counterfeits) money, it’s just as bad as if someone else did it. Well, worse, because they do it in such massive quantities.

When my grandmother was still alive, she would have read Hayek’s “Road to Serfdom,” or Mises “Socialism,” and said well yeah, that’s common sense. What some like to call a “conspiracy theory” about the Federal Reserve, was a major campaign theme for President Andrew Jackson (who shut the central bank down). What I’m saying here is, that there’s nothing new under the sun, it’s just that today the truth has been muddied.

Sure you could dig deep into Austrian economics and get confused by that too. But you don’t need to be a geek like I am, to understand it well enough for application. Like I said, it’s all common sense. No math problems and “macro” talk and all that nonsense either. Economics is a social science. Math is for things like finance. After all, how could one create a mathematical model which accurately described each individual choice?

Oh, they’ve called every bubble and what not since before the Great Depression too! No wonder they’re on “the fringe” … After all, when you accurately predict every government blunder, and correctly point out how to fix it, our Overlords (on both sides of the aisle) will hate you.