Does the Fed Need an Exit Strategy?
I wonder if Paul McCulley has ever entertained the idea that massive fiscal and monetary bailouts actually retard recovery?
Business Cycles
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Woods Tells the Story of the Meltdown
He contrasts the rapid recovery of the economy following the 1920–1921 depression, when the government adopted a "hands-off" policy, with the disastrous stagnation of the economy in the 1930s, during Roosevelt's New Deal.
Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse, by Thomas E. Woods, Jr.
Tom Woods has made an invaluable contribution with his latest book. The public today looks for an explanation of the current economic crisis and a prescription for recovery.
How Much Money Inflation?
Remember the flight to "safety" into T-bills and T-bonds? Most people fled from hard assets. These are the victims. They believed the propaganda of the establishment.
Inflation: What You See and What You Don’t See
As things stand, central banks' monetizing government debt is presumably the way forward for producing inflation — which is, and must be, defined as a rise in the money stock.
“Repressed Inflation”: The Ailment of the Modern Economy
Think once more and above all of Germany, where time is running out fast — the time, I mean, during which repressed inflation can still be removed before the price-wage spiral gets going, notwithstanding all the controls of the occupation authorities.
The Deflating Bubble
"All of this government intervention will only spawn new malinvestments and later depressions."
Why I Expect Serious Stagflation
Suppose in 2007 you were handed a piece of paper and a pencil, and were asked, "Come up with a list of bullet points for how to generate severe stagflation in the years 2010 through 2019."
Wouldn't your list look pretty similar to what has already happened?
