Central Banks Are Destroying Our Economies
Central banks intervene in order to “create demand,” and then they intervene in order to try to mitigate the damage they caused earlier. This is a never-ending scenario of economic destruction.
Central banks intervene in order to “create demand,” and then they intervene in order to try to mitigate the damage they caused earlier. This is a never-ending scenario of economic destruction.
Contrary to mainstream economists, credit expansion that is not backed by real savings leads ultimately to an economic downturn.
As the US economy falters and people continue to fall behind, the Austrian business cycle theory provides the best explanation for what is happening, even if the elites don't want to hear it.
Contrary to mainstream economists, credit expansion that is not backed by real savings leads ultimately to an economic downturn.
So, take solace chocolate lovers, while higher prices caused by the Federal Reserve are probably here to stay, the market is doing what it can to make sure that everyone has chocolate.
The Friedrich A. Hayek Memorial Lecture. Sponsored by Donald and Judy Rembert.
Central banks have had the chutzpah to claim credit for slowing down the rise of consumer prices. The truth is they have taken advantage of the supply boost from fading pandemic dislocations to pursue continued monetary inflation.
When governments go to war, the nation’s monetary system usually descends into the pit of inflation. The War of 1812 was no exception, and its monetary excesses led to the Panic of 1819.
When governments go to war, the nation’s monetary system usually descends into the pit of inflation. The War of 1812 was no exception, and its monetary excesses led to the Panic of 1819.
Some economists believe that the balance of payments is what determines currency exchange rates. In fact, exchange rates are always about the purchasing power of some currencies relative to others.