Booms and Busts

Anti-capitalism is pervasive in academia, and the new data on graduate school admissions suggest that it is only going to get worse.

The meltdown on Wall Street can't be corrected through intervention; if it is headed down further, it needs to run its course.

The oil price, the stock market, the yield curve, and other factors suggest the boom may be fading. But several quick steps to free markets would shorten the pain. 

The Prime Minister's statist, inflationist program isn't saving the country; it is preparing the way for yet another crash. 

At some point, and nobody knows when, the stock market is going to reverse its climb. It may even collapse. It is interesting to speculate on what kind of political response that would generate. Given the politics of entitlement and the propensity of the Fed to intervene, the picture looks pretty grim.

Central bankers mistake the cause for the cure. (Essay by Jeffrey Herbener)

How a credit-driven expansion has fed the stock-market boom. (Analysis by Sean Corrigan)

The Fed has pumped up the stock market, setting in motion certain inevitable consequences. (George Reisman provides an Austrian perspective)
 

The sordid history of failed economic predictions in our time. (Analysis by Clifford F. Thies.) 

 Is Greenspan issuing a warning? According to Austrian financial analyst Albert Friedberg, that is precisely what the Fed chairman is up to.