Booms and Busts

"There is a definite sense in which the government plays by a different rulebook, because the central bank waits in the wings to monetize its debts."

The whole entrepreneurial class is in the position of a master builder whose task it is to erect a building out of a limited supply of building mat

It is likely that with the bailout of Greece we have already passed this point of no return.

"The only possible solution to the inflation problem is an open opposition to the unions and to the idea that higher money wages are the only means for improving the condition of the masses."

The drop in interest rates makes unrealizable projects appear profitable and realizable. Entrepreneurs embark upon the execution of such projects.

When the influx of silver and gold from the Spanish colonies in the New World dried up, little or nothing remained. But that was not all.

The average range of tuition inflation is normally 8% annually, and prices have not fallen or stabilized once since 1977, regardless of economic cl

"Make no mistake, this supposed 'containment' boondoggle was yet another bailout of the world's largest banks. A majority of the PIIGS's debt is held by large French and German banks."

"The risk associated with loan obligations are shifted to the taxpayer. Consequently, the act removes obligation and creates a moral hazard with the creation of a virtual backstop."

In a depression, all prices must be allowed to adjust downward. Wages are no different. First and foremost, the government's artificial wage floor should be removed.