Business Cycles

Central banks never recovered and "normalized" their balance sheets after the 2008 crisis. That means the current system is very fragile.

Mises made a distinction between credit that is backed by savings, and credit that is not. The second type plays a key role in the boom-bust cycle.

China has many problems, but it also has a high savings rate, a limited welfare state, and a rising middle class.

Joseph Salerno spoke on "Why Falling Prices Are Good for Business" at Ramapo College in New Jersey on October 4.

Putting the finishing touches on the world's largest building in China

Central banks have been on a bond-buying spree. This is good for governments deep in debt. But it is a risky and dangerous policy for the rest of us.

With such low interest rates, shouldn't we be experiencing a boom? The problem is, a solid economy requires much more than just low interest rates.

From near-zero interest rates to price controls to easy home loans, it is clear that government is now more in need of sound economics than ever.

The cure for the curse of the Federal Reserve and its grand experiment is to install a sound monetary order. The next US president must clean house.

The EU is ill-equipped to deal with the crises that lie ahead.