Booms and Busts

I am in Bhopal, visiting India after almost three years.

Unfortunately, this first essay failed to shine any light in the darkness because he is using advanced mathematics — econometrics — in an attempt to explain human beings.

He has chosen the wrong tool for the job.

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 ...

This fascinating and inspiring story from the BCC shows

Gerard Jackson takes on Alan Wood and Robert Shiller on the cause of speculative asset price bubbles in

This piece from Bloomberg, which quote

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.