I just had a long conversation with a longtime member of the Mises Institute. We discussed the economy, gold investments, and the great Burt Blumert. I thought it would be worthwhile to post Burt’s Wikipedia entry here for both all the people who admired Burt and younger members and scholars who did not have the pleasure of knowing Burt. He was a great man and a vital figure in building the libertarian movement and the resurgence of the Austrian School.

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One chapter of David Stockman’s new book, The Great Deformation: The Corruption of Capitalism in America” that will be of special interest to Austrians is chapter 13 entitled “Milton Friedman’s Folly.” Here are a few snippets:

“Friedman’s single variable-fixed money supply growth rule was basically academic poppycock” (p. 262).

In an interview on The Lew Rockwell Show, economist Harry Veryser of the University of Detroit-Mercy and author of It Didn’t Have to Be This Way shared the following recollection:

Here is chapter 9 of David Stockman’s book Deformation: The New Deal’s True Legacy: Crony Capitalism and Fiscal Demise Stockman Seminar

David Stockman on the Myths of a New Deal Recovery. Its a free chapter from his book.

The Real Reason for FDR’s Popularity

Stockman Seminar

Speech by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia.

Can we end too big to fail? I think we can, but I believe the current efforts may come up short. If we are to end discretionary bailouts and the associated moral hazard problems that they create, we should seek more rule-like methods to resolve failing firms, such as a new Chapter 14 bankruptcy mechanism.

asked Tony Durden at Zero Hedge the other day. His answer: the Treasury Borrowing Advisory Committee to the US Treasury chaired by Matt Zames of J.P. Morgan. Durden discovered the following passage by Friedrich Hayek quoted in the TBAC’s quarterly refunding presentation made at the beginning of May. Here it is as found on p.