This week’s Mises Weekends:
Jeff Deist and Jay Taylor, host of Taylor’s Hard Money Advisers, discuss the role of Austrian economics in understanding the market crash of 2008.
That drop in the gas prices came just tin time. Ground beef was once a simple, basic, and easy source for protein. Now, not so much. But at least iPads are cheaper, right?
The average price of a pound of ground beef climbed to another record high — $4.235 per pound — in the United States in January, according to data released today by the Bureau of Labor Statistics (BLS).
Independent Institute links to Burton A. Abrams’s (Research Fellow at the Independent Institute and Professor of Economics at the University of Delaware) sound criticism of Fed policy at Investors.com powered by Investor’s Business Daily. Abrams provides some of the best commentary I have seen on the Fed’s nonsensical commitment to 2% inflation as price stability.
Some highlights:
Mises Daily Friday by Brendan Brown:
Janet Yellen testified before Congress this week, but the Senate Republicans, who claim to be the guardians of monetary sanity, failed to show any true understanding of monetary policy and the damage the Fed has inflicted.
[This article is adapted from Chapter 11 of The Fed at 100: A Critical View on the Federal Reserve System.]
A new deal with the International Monetary Fund is in the books for Ukraine, a deal designed to provide rapid macroeconomic stabilization for a country fraught with war. In three weeks, Ukraine expects a first installment of $8 billion as part of a $40 billion bailout scheduled for the next few years.
Over at EPJ Bob Wenzel offers an interesting take on market monetarist Scott Sumner’s dismissive critique of contrarian Tyler Cowen’s position that “monetary policy just doesn’t matter that much” during the recovery phase of the cycle. Wenzel awards the first round to Sumner in this blogospheric contretemps. We await Cowen’s response with interest.
