To coin a phrase, "What has government done to our money?"

https://www.google.com/webhp?sourceid=chrome-instant&rlz=1C1TSNP_enUS504US504&ion=1&espv=2&ie=UTF-8#q=oil%20price%20collapse

Because this seems to conflict with the "Austrian" doomsaying that the U.S. dollar would "collapse." Now it looks like the U.S. dollar has gone into the opposite of a "collapse" because a dollar can buy a lot more oil today than it could a few months back.

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Now it looks like the U.S. dollar has gone into the opposite of a "collapse" because a dollar can buy a lot more oil today than it could a few months back.

Like chaosmage said, oil is getting cheaper in all currencies (at least the ones not experiencing hyperinflation). Thus it isn't related to the country's economic policy.

Also if you update against "Austrianism" every time the price of oil drops, do you update in it's favor every time it rises?

6William_Quixote5yAustrian economics has consistently made bad predictions. It doesn't give you the right answers for rates, fx, gdp or inflation.
0Alsadius5yAs a general rule, doomsayers are rather silly. Doom not coming to pass is the expected result, and shouldn't surprise you.

Open thread, Dec. 15 - Dec. 21, 2014

by Gondolinian 1 min read15th Dec 2014309 comments

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