It’s Us – Not Politicians Or Rich People – Who Create Jobs And Drive Economy

When business lobbies warn that voting Left would lead to a period of political instability that would hurt the economy, it’s easy to understand cynicism from the Left-wing parties. Someone should remind business lobbies, corporations and banks that it was the people at the commanding heights of banks and business who ruined the economy last time.

David McWilliams, a respected economist and commentator has written an interesting article ahead of the Irish election where he points out the importance of normal every day people and businesses and indeed of “animal spirits” and psychology:

Politicians should understand that they do not create jobs; nor do rich people. Jobs are created by general demand. Rich people don’t create demand. You and I create demand. Demand is what happens when the society has enough income to buy goods and services.

How does that happen? Where does income come from?

It comes from investment. It comes from people, you and me, going out and risking capital into projects today that we believe may deliver fruit in the morning. These are animal spirits unleashed. So if we are opening a shop, café or online business today, we believe that we will be able to gain enough business to make the returns to that business better in the future for us than if we did nothing today. In short, we back ourselves, our ideas and our own personal energy, drive and talent to create something out of nothing now that will be worth something far more than nothing tomorrow.

McWilliams article can be read on the Irish Independent 

David McWilliams is one of the many speakers at Cantillon 2016, ‘FINTECH – Disrupting the Landscape’, taking place this Thursday in Tralee, Co Kerry. Mark O’Byrne of GoldCore will be speaking about “Future Of Money – Savings, Payments, Asset Backed Digital Currencies & Gold.”

 

LBMA Gold Prices

24 Feb: USD 1,232.25, EUR 1,122.33 and GBP 885.52 per ounce

23 Feb: USD 1,218.75, EUR 1,106.62 and GBP 863.43 per ounce 

22 Feb: USD 1,203.65, EUR 1,088.17 and GBP 849.21 per ounce

19 Feb: USD 1,221.50, EUR 1,101.14 and GBP 853.35 per ounce

18 Feb: USD 1,204.40, EUR 1,082.41 and GBP 841.19 per ounce

Gold and Silver News and Commentary

Gold inches lower but stays supported on risk-off mood – Bullion Desk

Gold keeps gains above $1,200 on safe-haven bids – Reuters

Gold’s Bull-Market Flirtation Has Investors Swooning Over ETFs – Bloomberg

Consumer confidence falls to seven-month low – Marketwatch

Video: Manipulation In The Gold Market? – CNBC

Why is Gold Rising Again – Goodman

Technical analysis is just a weapon against the gold market – Profit Confidential

GLD continues to astound – Norcini – Gold Seek

Click here

The post It’s Us – Not Politicians Or Rich People – Who Create Jobs And Drive Economy appeared first on GoldCore Gold Bullion Dealer.