In today’s Wall Street Journal an editorial examines the impact of Fed Policy on the developing world (Ben Bernanke’s Global Adventure : The markets show unwinding QE is not so easy). The emphasis is, as it maybe should be for now, on the difficulty facing not only the U.S, but the world economy if and when the Fed begins to unwind QE infinity:

Writes Murray Sabrin in the Politicker blog of The New York Observer:

Carlo Lottieri of Instituto Bruno Leoni has recently published a new book, Liberali e non.

John Tamny at Forbes reviews Mark Spitznagel’s The Dao of Capital: Austrian Investing in a Distorted World. Writes Tamny:

“The quantitative easing program is like a giant roach motel with a big welcome sign.”  So says fund manager Mark Feierstein, author of Planet Ponzi, in this short video interview. Although no Austrian, Feierstein has insightful things to say about the U.S. government’s lying statistics and the dire prospects for a world awash in Fed-generated debt.

Here is a very good piece by Amar Bhidé, “Wanted: A Boring Leader for the Fed.” Bhidé, like the Austrians and sensible mainstream economists like John Taylor and Raghu Rajan, is deeply concerned about the principle that the “independent” Fed should assume, and exercise, vast discretionary powers.

The flood of dollar-denominated debt has risen in Turkey, Brazil, India, and South Korea since Bernanke turned on the monetary spigot in 2009. Now it appears, according to a perceptive article by Landon Thomas, Jr. in the New York Times, that the end of the boom may be in sight as rumors swirl that the Fed will soon be tightening money.

Happy birthday to Ron Paul, Distinguished Counselor of the Mises Institute and longtime supporter of  Austrian economics. Here’s Dr. Paul with Henry Hazlitt, Murray Rothbard, and Lew Rockwell, from a 1987 dinner in honor of Hazlitt.