Lecture 2 of MBA course in Managerial Economics at Prince Sultan University. Discusses some fallacies and myths on global issues related to the U.S dollar, US economy, gold, oil, and other important and current global economic issues. inflation, dollar inflation, fiscal deficit, money printing, tax increases, spending cuts, borrow, currency devaluation, inflation tax, social security, welfare, warfare, welfare-warfare state, law-and-order state, Great Society, foreign reserves, human capital, infrastructure, gold-oil ratio,