Author: Mark Biernat

Americans are spoiled

Americans have economic lost perspective I am American. However, I became aware of how spoiled Americans are when I lived for many years in Eastern Europe. I am writing this not to cut on Americans, people who I respect, but to put economic life in perspective. Forgive my title, as I am a patriot, but…
Cause of US Economic Problems

What are the biggest problems the USA has economically? US debt to GDP Federal Reserve mismanagement of money Trade deficit The root caused could be argued is fiat currency. It causes all three of the above. Fixed exchange rates under the gold standard balanced trade automatically under the price–specie flow mechanism. The Debt was controlled…
Adam Smith was Right

Adam Smith was right. Ronald Reagan was right when he said ‘government is the problem’. Government and the economy At first, I was for government intervention. I thought maybe the president was a bright, strong leader and will solve many of the problems of the US economy. But it is very clear to me that…
How to Make Money in Stocks

Many books will tell you how to make money in stocks as well as every expert on the internet. How to make money in stocks The purpose of this page is: To explain to you two rules so about how to make money in stocks. So you can get rich and not lose money. How to…
Adam Smith and Insurance

Adam Smith did not write about much about insurance but here are some thoughts and quotes that are connected. Adam Smith on Risk The contempt of risk, and the presumptuous hope of success, are in no period of life more active than at the age at which young people choose their professions. How little the…
Why I do not Work

Why work? Work to live not live to work. Do not work for a title or more material possession or you will be unhappy. I make a pittance but I am happy. I live in the US and go to school in Europe for a Ph.D. I teach at a college. I also tinker in…
Government Expansion with Every Crisis

This post is better called how the government will make you rich. Please read on. If you think government takeovers will make things better for you and make your rich or save things, think again. Governments are very poor managers of assets. I live in Eastern Europe. I am an American. People in Eastern Europe…
Adam Smith’s view on Government

Government leaders have never read Adam Smith. I am sure of it. At least not in full. In fact, if bureaucrats and politicians had read Smith they would understand that small government means small problems and big government means big problems. Or in the ideals of our founding fathers, ‘the government that governs least governs…
Credit Union or Bank

Which is better a credit union or a bank? The credit unions vs. banks’ controversy are easy to solve if you take a step back and look at the economic incentives. First, as yourself what is the purpose of a credit union and what is the purpose of a bank? Profit motive I have worked for…
Adam Smith – How to Make Money

Adam Smith: virtue + self-interest = success Adam Smith wrote about economics, but also self-actualization. If you are going to study about making money, why not meditate on the wisdom of the ‘father of economics’, he spends his whole life thinking about the subject. He was not exactly a self-help guru, and he wrote in…