“[T]he stated purpose of the Wall Street bailouts — to avoid a replay of the 1930s — was drastically misguided. It was based on a phantom threat which arose overwhelmingly from the faulty scholarship of a single official . . . who had come to head the nation’s central bank. The analysis was actually not even his own, but was the borrowed theory of Professor Milton Friedman.”
Walter Block is interviewed by Louis James, the Editor of the International Speculator. Topics include Murray Rothbard, Ron Paul, Milton Friedman, the gold standard, his new book, and how to invest during this economic crisis.
The conclusion of Ohanian’s paper is quite—one is tempted to say “hardcore”—Rothbardian.
President Barack Obama is famous for many things, including two best-selling autobiographical books. In those books, he openly admitted to using illegal drugs as a young man, specifically marijuana. So, one would think that he would be amenable to reforming drug laws and sentencing guidelines, or even legalizing marijuana.
Great chart from Moody’s:
Here is my interview by Tom Woods on the Peter Schiff Show. We discuss gold prices, where is all the inflation, and what central banks are up to.
I have found that when teaching economic principles it is important to raise questions concerning the ethical implications of those principles, the free market, and government intervention. It not only stirs the interest of students, it also helps drive home the intended lessons.
In this interview, Shawn Ritenour and Lew Rockwell discuss the role of ethical considerations and why Christians who ignore the principles of economics, do so to the peril of their own faith.
Here is a video interview of Jim Grant discussing the steep drop in the gold price. He says it was the result of the “structure” of the market. I interpret “structure” to mean who is invested in gold and how are those investments financed, along with “technical” factors. He compares it to the 1987 stock market crash and the 1994 bond market crash.
Interest payments to banks (for money held on account wit the Fed) could rise from $1 billion in 2012 to $77 billion in 2016. Link to Bloomberg article.
