By Ron Paul

Last week, Federal Reserve Chairman Janet Yellen testified before Congress for the first time since replacing Ben Bernanke at the beginning of the month. Her testimony confirmed what many of us suspected, that interventionist Keynesian policies at the Federal Reserve are well-entrenched and far from over. Mrs. Yellen practically bent over backwards to reassure Wall Street that the Fed would continue its accommodative monetary policy well into any new economic recovery. The same monetary policy that got us into this mess will remain in place until the next crisis hits.

For fans of the science fiction and fantasy genres, Stephen R. Donaldson probably needs no introduction. For those not so familiar, Donaldson has penned numerous novels and short stories, many to critical acclaim, and is the author of the recently-concluded Chronicles of Thomas Covenant, widely regarded as one of the best fantasy series of the last forty years.

In response to E.J. Dionne’s WaPo attack on Austrian economics, Associated Scholar Paul Prentice explains Austrian econ to the readers of the Colorado Springs Gazette:

How many economists does it take to change a light bulb? None. When the one they used in graduate school goes out, they sit in the dark.

Robert Samuelson writes here about how mainstream economists have done such a poor job of forecasting the economic crisis and that they have been consistently overestimating economic growth.

The Daily Bell features a wide-ranging and engaging interview with Richard Ebeling, Professor of Economics at Northwood University.  Ebeling is one of the leading scholars in the history of Austrian economics, especially the works and thought of Ludwig von Mises. and has written voluminously in the area.

Larry Kudlow frets that Janet Yellen simply doesn’t understand the need for a rules-based Fed model to guide the money supply and interest rates. Ms. Yellen, Kudlow informs us, should “limit her focus to stable prices and a reliable King Dollar.”

Here is an amazing video in which Hayek is interviewed about his knowledge of Keynes. He makes very strong claims that Keynes was blissfully ignorant of economic theory, monetary theory, economic history, and the history of economic thought. Unlike some other interviews of Hayek, the audio is clear and this clip is only 5 minutes long.

The European Union (EU) is currently discussing banning “bankruptcy.” Not the actual financial act, but the word.