Monetary Theory

From the heart of the would-be global Hoi Phylakes — the Council for Foreign Relations — 

While watching the classic comedy Animal Crackers, I laughed as

China again raises reserve requirements of banks .

Here’s an interesting excerpt from an interview with David Card by the Mi

Always one of the more sensible of our supposed monetary Guardians, Jerry Jordan, former President of the Cleveland Regional Fed has

Here's the positive. Milton was a beacon of light on issues such as the minimum wage law, free trade, and rent control.

We must unmask the fact that they use the Federal Reserve to dupe the masses into supporting imperialism. The Fed must be stopped. Gold coins must return as our monetary standard. The ideas of the Austrian economists must prevail.

The best that Professor Yunus could do to help his country would be to use his now-considerable credibility to push for a freer market through radical privatization and free trade.

Contrary to popular way of thinking, the threat to US economy is not the high level of debt as such but credit that is not backed up by real savings. Also, the fall in the money stock that precedes price deflation and an economic slump is actually triggered by the previous loose monetary policies of the central bank and not the liquidation of debt.

Both Phelps and another Nobel Laureate Milton Friedman have introduced more confusion rather than clarity regarding the explanation of the phenomenon of stagflation.