Via the IHT ( Paulson saying he would consider allowing Fannie Mae, Freddie Mac to buy larger mortgages ) and Bloomberg ( Fannie Mae, Freddie Mac Regulator Eases Asset Limits ), regulatory limits on the two GSEs will be relaxed, in order to allow them to buy, in aggregate, $36 billion of mortgage-backed securities containing “jumbo” loans ---
Sorry to revisit the same topic so shortly, but in that same AA edition cited in my previous post, I simply cannot praise Garrett’s piece, entitled ‘Mythologies of Reconversion’, enough. This is not just a witheringly effective dismissal of the central planner’s and inflationist’s folies de grandeur , but one of the most evocative treatments you
It was this very day that I was telling some visiting students about the silliness of the old populist silver movement of the late 19th century, how they ridiculously believed that all economic troubles could be solved if only the government would print more money — not realizing that more money only means watering down the value of the existing
For you Fed-heads, the papers from the Fed’s Jackson Hole Symposium are now on-line. From Dr. Robert Shiller of Yale University, Understanding Recent Trends in House Prices and Home Ownership . Shiller is one of the few mainstream academic economists to advance the view that the stock market was in a bubble during the late 90’s, and now believes
It appears that the government of Zimbabwe is giving the Hungarian peng o, a run for its money (literally): Cash runs out in land where the bus fare is 1.6 m dollars Some sobering points: - October’s annualized inflation was 14,840%, up nearly double from September - The highest paper currency, the Z$200,000 note, has almost disappeared - Cash
I. Professor Knight’s argument II. On some current misconceptions: The investment periods and technological progress They refer to factors, not products The aggregate of such periods cannot be reduced to an average, nor is measurability essential The periods refer always to the future, never to the past The concept does not depend on a distinction
[This article is excerpted from chapter 3 of Economics for Real People .] I’m going to ask you to imagine a slightly different conclusion to the first season of Survivor . In the original television show, the winner — the fellow who “survived” the longest — was a guy named Rich . In our alternate universe Rich is still the winner, but, as the film
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.