Transparency or Deception: What the Fed Was Saying in 2007
What the Fed was saying in 2007 suggests the central bank was practicing either deception, incompetence, or a combination of both.
Money and Banking
Displaying 381 - 390 of 2009
China’s Yuan Devaluation Is a Big Mistake
China’s stealth devaluation is not making the country more competitive, it is making household and corporate debt riskier as the purchasing power of the yuan is diminished.
Bitcoin, the Regression Theorem, and the Emergence of a New Medium of Exchange
What is the direct-use value of bitcoin? And does it have any?
The Fed Is Flying Blind
In its blind search for the "correct" interest-rate policy, the Fed can't succeed in extending the boom indefinitely.
GDP Growth Is Not the Same Thing as Real Economic Growth
A strong GDP growth rate, in most cases, is likely to be associated with the intensive squandering of the pool of real wealth.
Why No Crisis Erupts When Real Saving Backs Up New Investment
Expansions in credit and investment are only a problem when they result from inflationary monetary policy, and not from real saving.
Bernie Sanders Might Learn Something from Venezuela’s Minimum Wage Experiment
Rothbard: "if proponents of the higher minimum wage were simply wrongheaded people of good will, they would not stop at $3 or $4 an hour, but indeed would pursue their dimwit logic into the stratosphere."
Central Planning Failed in the USSR, but Central Banks Have Revived It
When I left Soviet Russia in 1991, I thought I would never see a command-and-control economy again. I was wrong. Over the past decade the global economy has started to resemble one.
Ten Years After Lehman: The Solution Was “More Lehmans”
Lehman was a prime example of mainstream consensus analysis of risk and economic opportunity. We "solved" it with more of the same.
Credit Expansion Squanders Capital
As the credit expansion turns to bust, many capital goods remain unused, many investment processes cannot be completed, and capital goods produced are used in a manner not originally foreseen. A large portion of society’s scarce resources has been squandered.
