Business Cycles
We Don’t Need “Animal Spirits” to Understand Economics
Mainstream economics often invokes vague and unquantifiable concepts like animal spirits to explain how economies work.
Deflating the Deflation Myth
Deflation serves as the theoretical justification of every inflationary action taken by the Federal Reserve and central banks around the world.
The Minsky Moment
Interviewed by host Alan Butler, Joe Salerno discusses the peak of the business cycle and the ensuing financial crisis.
Inflation Does Not Produce Economic Growth
If price inflation near 2 percent is good for the economy, why not aim at a higher rate of inflation and make the economy much healthier?
Fiat Money and Business Cycles in Emerging Markets
As central banks in rich countries flood their economies with fiat money, the excess funds are often used to invest in emerging markets.
Is Bad Weather Behind Weak US Economic Trends?
Most economic commentators blame weakening economic data on recent bad weather in the US. Many assume it will improve once consumers can go out and spend again. But it’s more likely weakening trends are in response to the emerging economic bust brought about by a decline in the growth momentum of the money supply.
Europe May Be in the Calm Before the Storm
There is a perfect storm developing then in the European banking sector.
Why Some Emerging Markets Are Heading for a Bust
Central banks in both Turkey and Argentina have tightened their monetary policies setting in motion an economic bust.
Bernanke’s Legacy: A Weak and Mediocre Economy
The Wall Street Journal has evaluated the Greenspan and Bernanke era and awarded it a well-deserved “F.”