The "fundamentals" of the economy have been and remain awful, because the government and Federal Reserve are consistently doing the wrong things. The apparent recovery, fueled by Bernanke's sheer money creation, has been bogus all along.
Recorded at Mises University 2011. Includes an introduction by Mark Thornton.
At last, everyone agrees that the US economy is sinking into the morass of depression. The question is why.
Recorded at Mises University 2011. Includes an introduction by Mark Thornton.
Recorded at Mises University 2011. Includes an introduction by Mark Thornton.
So, isn't it time to demythologize all of this? Treasuries are bonds just like any other bonds. There's nothing magic, mythical, or sacred about them. A default on US government debt is no more or less radical than a default on any other kind of debt.
The question in the popular press is, "Which economic policy is the best to alleviate the recession?" Wrong question.
I am pleased to announce that, starting July 20, I (and guest lecturer Peter Klein) will offer a Mises Academy class, <a href="http://academy.mises.org/courses/production/">Production and the Market Process</a>.
