The Federal Reserve Now Is between the Proverbial Rock and a Hard Place
The great credit expansion Alan Greenspan began thirty years ago has finally run its course. The Fed no longer can expand credit to fight the oncoming recession.
Business Cycles
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The Canaries in the Coal Mines Are No Longer Singing
Mortgage companies and realtors are today's canaries. They're in deep trouble, and so are the rest of us.
The Economy Needs a Volcker Moment
When Paul Volcker was Fed chairman forty years ago, he did what was necessary to bring down inflation. Unfortunately, the current Fed leadership at best is engaging in Volcker Lite.
The Canaries in the Coal Mines Are No Longer Singing
Mortgage companies and realtors are today's canaries. They're in deep trouble, and so are the rest of us.
The Federal Reserve Now Is between the Proverbial Rock and a Hard Place
The great credit expansion Alan Greenspan began thirty years ago has finally run its course. The Fed no longer can expand credit to fight the oncoming recession.
GDP Provides a False Reading of the State of the Economy
Most economists see GDP as a snapshot of the performance of the economy. However, it is better understood as a misleading statistic which fails to accurately describe what really is happening economically.
Economic Winter Has Arrived
The Federal Reserve is raising interest rates and we know what follows, given there has been more than a decade of malinvestments building up: severe recession.
How Bad Were Recessions before the Fed? Not as Bad as They Are Now
The Federal Reserve was supposed to prevent recessions that people blamed on the lack of central banking. Not surprisingly, the post-Fed recessions have been worse.
Economic Winter Has Arrived
The Federal Reserve is raising interest rates and we know what follows, given there has been more than a decade of malinvestments building up: severe recession.
