thedailybell.com / With Anthony Wile – April 19, 2014
Introduction: Terry Coxon is the author of Keep What You Earn and was for many years a close collaborator with and editor for the late Harry Browne. He currently is a regular contributor to The Casey Report. Mr. Coxon has a distinguished history as an architect of innovative financial planning arrangements, including the Permanent Portfolio Fund, the United States Gold Trust (the first gold ETF), the Passport Financial Offshore Trust and the Open Opportunity IRA.
Daily Bell: It’s been a while. Let’s start with a question we ask almost everyone. Is the US really recovering from recession – or isn’t it?
Terry Coxon: The short answer is, yes, the U.S. recovery is still underway. Inflating the money supply by 90% almost guarantees a revival. But more interesting to me is that five-and-a-half years after the near panic in 2008 everyone is still asking the question and, by now, almost everyone has been called upon to give an answer. What a waste of time and mental energy!
Daily Bell: What would be a better way?
Terry Coxon: The attention so many of us spend on sorting out the consequences of the government’s trifling with the currency and interfering in the capital markets could be spent on something more productive – if it weren’t a matter of necessity for us to figure out how to protect ourselves from the government’s bad habits.
Daily Bell: But is “Yes, there’s a recovery” the end of the story?
Terry Coxon: No. It’s the beginning of the story, or of the current chapter of the story. The recovery has been slow because of the memory so many people have of the near-death experience of 2008-2009 and because of the U.S. government’s recent above-average rate of growth in deficit spending and regulatory interference.
Thanks to BrotherJohnF