In his book, Boombustology, Vikram Mansharamani reminds us that when markets get bubbly, money starts flowing in Picassos, Warhols and the like. Normal folks on main street are hawking cheap paintings at garage sales to fill their gas tanks.

There is a remarkable outpouring of enthusiasm and affection occurring right now in London’s Trafalgar Square over the wedding of Prince William and the beautiful Kate Middleton. As I am writing, the couple has just stepped out from Westminster Abbey onto a balcony to wave to the crowd and smooch it up.

On the BBC, there was even an old gent interviewed who described himself as an “unabashed royalist” and who led a small crowd in pitchy rendition of God Save the Queen.

The Fed economists and their supporters really believe — truly believe — that they are the rescuers of our economy.

They did what they were supposed to do. Now, they have few job options at all.

[An Essay on Economic Theory, (1755; 2010)]

[The Writings of F.A. Harper, Volume 1 (1978)]

When you can’t use your income for things of your choice, its worth is lessened to you.

The greatest opportunity now for a quick increase in the worth of wages is to reduce the cost of governing ourselves so that more of the wage can be kept.

Why should we care about his predictions concerning the economy or his recommendations for how to end the slump? The answer, of course, is that the Federal Reserve has the power to destroy the world economy.

This article in the Independent by Brendan Keenan addresses the issue of blame for the economic crisis. He just about gets it right. The Invisible Hand of government (aka Central Banks) was acting to deceive the Invisible Hand of the marketplace. This is the topic for my lecture for tomorrow’s conference at the Mises Institute.