The Fed Is Winging It: A 75 Basis Point Hike “Seemed like the Right Thing”
When asked to quantify how a 75-point hike is better than a 50-point one, Powell had no answer. And will it work? Powell could only say "we'll know when we get there."
When asked to quantify how a 75-point hike is better than a 50-point one, Powell had no answer. And will it work? Powell could only say "we'll know when we get there."
Ben Bernanke once claimed that a monetary gold standard caused economic instability. He failed to mention that his fiat money standard causes the boom-and-bust cycles.
Did you feel happy when the government gave you a check paid with printed money? Watch now as your daily groceries, gas and power become unaffordable.
Although they never actually accomplished it, one of the worst things the Keynesians did was convince some people that they had refuted Say's law of markets.
The Biden administration, stung by low poll numbers, insists that the president is receiving unfair PR, which is hiding the "truth" about Biden's many accomplishments.
On June 19, 2022, geopolitical analyst Ian Bremmer posted the following on Twitter:
Janet Yellen admits she underestimated inflation, but she still does not realize that inflation is not higher prices, but the increase in fiat money that forces up prices.
Although social media is blamed for many social ills, the sickness doesn't come from Twitter or Facebook but from how the ruling classes have politicized life itself.
A standard criticism of free markets is that markets promote inequality. It is time to debunk that false claim.
One of the most controversial areas in Austrian economics, and one where even long-established Austrian theorists differ sharply, is monopoly theory.