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- Search found 20 items for:
- Interventionism
- Douglas French
- Booms and Busts
Mises Daily
Author:
Douglas French
Online Publish Date:
Anyone who follows financial markets has to wonder at times, “What are people thinking? How did they come to make those decisions?” It’s hard to imagine that John Muth and Robert Lucas came up with what’s known as the “rational-expectations theory,” wherein, as explained in Wikipedia, it is assumed that outcomes that are being forecast do not
Mises Daily
Author:
Douglas French
Online Publish Date:
[ Alchemists of Loss • By Kevin Dowd and Martin Hutchinson • Wiley, 2010 • 432 pages] Worrying that their friends on Wall Street are liable to blow themselves up any day with complex financial products and strategies, Congress has passed and Obama has signed 2,300-plus pages of financial reform that provides “an architecture reflective of the
Mises Daily
Author:
Douglas French
Online Publish Date:
So you thought that troubles were over for the banking system. Now, the Financial Times reports that the 35 largest US banks will come up $100 to $150 billion short of capital after the Basel III global banking regulations kick in, “with 90 per cent of the shortfall concentrated in the biggest six banks, according to Barclays Capital.” To comply
Mises Daily
Author:
Douglas French
Online Publish Date:
Anyone who follows politics or financial markets has to wonder at times, “What are people thinking? How did they come to make those decisions?” It’s hard to imagine that John Muth and Robert Lucas came up with what’s known as the “rational expectations theory” wherein, as explained in Wikipedia, “it is assumed that outcomes that are being forecast
Mises Daily
Author:
Douglas French
Online Publish Date:
Last week a jaundiced-colored Ben Bernanke graced the cover of BusinessWeek amidst a background of flaming hues that had me scanning for a hammer and sickle. “The current financial crisis — perhaps the biggest since the Great Depression — has turned Federal Reserve Chairman Ben Bernanke into a reluctant revolutionary,” Michael Mandel and Peter Coy
Mises Daily
Author:
Douglas French
Online Publish Date:
For those thinking that the real-estate bust is all over with — think again. The residential market has hit the ditch and continues to sink lower, but now the commercial property market is rolling over and will take many lenders down the drain with it. America’s small and regional bankers are pointing their fingers at the big banks, claiming the
Mises Daily
Author:
Douglas French
Online Publish Date:
There is an epidemic of bankruptcies: Circuit City, Sharper Image, Goody’s, Gottschalk’s, Comp USA, Levitz Furniture, Chrysler, GM. Not to mention all the local businesses that don’t make the news when they close up shop. And the rash of corporate bustouts is far from over according to consulting firm Bain & Company, who predicts nearly 100 large
Mises Daily
Author:
Douglas French
Online Publish Date:
“The overexpansion of the strip-club business is yet another malinvestment created by the Federal Reserve’s monetary creation.” Strip clubs are the ultimate boom-time creation. After all, the business model rests on masses of men overpaying for cocktails while overpaying lithesome young women to bump and grind on their laps — all of this after
Mises Daily
Author:
Douglas French
Online Publish Date:
It’s hard to imagine that the monetary policy talk can get any nuttier, but we’ve likely only just begun. After all, despite the Federal Reserve growing its balance sheet by 140 percent and dropping rates essentially to zero, the bankruptcies just keep on coming. Ex-Fed governor Wayne Angell told Larry Kudlow’s CNBC audience, “monetary policy