Friedman maintained that the policies of the Great Depression were a failure because they were not based on his own interventionist proposals: to inflate and undermine property contracts. From this perspective, the state failed not because it didn't "let the market work" but because it didn't let the Chicago bureaucrats work.
So does Schiff truly think the "unsustainable" deficit will break this year, or does he really just want you to buy his book on the coming crash?
The spirit of speculation and adventure pervaded the entire community ...
Much ink has been expended in discussions of the US yield curve and also on the reluctance of the country’s lower money aggregates to grow as
Contrary to the accepted way of thinking, recessions are not negative growth in GDP for at least two consecutive quarters.
Joseph T. Salerno (2003) argues economic growth has occurred in periods of deflation. The Austrian School’s broad understanding of deflation is underscored by the four definitions offered by Salerno.
