Monetary Theory

Professor White's lecture showed that, historically, a free-market approach to the banking industry is less prone to crises and operates efficiently through the invisible hand of the market.

Freedom works; market prices guide people to make the necessary adjustments after a big surprise.

There are only inflationists on Capital Hill and Obama has a bigger bag of boondoggles than FDR could have ever imagined.

Even if the "debt deflation" scenario is generally right, the absolute effect could be swamped by the relative effects, meaning that retirees on fixed dollar incomes could still get wiped out when their standard monthly expenses rise.

Government spending merely directs scarce factors of production away from their most productive uses.

The Keynesians have no leg to stand on.

"The beauty of an auction is that it's a very clear and simple example of what goes on every day in a free market — buyers and sellers meeting to negotiate a price."

In Krugman's world, prosperity is created by spending, and it does not matter who spends what on whom just as long as someone is spending.

Any audit that exposes the Fed's relationship to the state will be worth doing, even if the Fed's friends keep it where it is.

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.