Booms and Busts

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Why Government Stimulus Sometimes Looks like It Revives the Economy

Booms and BustsInflationOther Schools of Thought

Blog12/01/2020

Even when an economic bust appears, there may still be enough real savings in the economy to quickly put the economy back on track. This is what brings economic recovery, not artificial "stimulus."

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A Drop in the Money Supply Was Not the Cause of the Great Depression

Booms and BustsMoney and Banks

Blog11/18/2020

Even if the central bank were to be successful in preventing the fall of the money stock, this would not be able to prevent a depression if the pool of real savings is declining.

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The Rise of Mega–Gambling Facilities: A New Skyscraper Curse?

Booms and BustsFinancial Markets

Blog11/06/2020

Circa casino’s new three-story, 78 million–pixel, high-definition screen in its sportsbook gambling compound may represent a new frontier in mega–building trends similar to those of skyscrapers. 

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Digitization Fueled by Easy Money and Covid Lockdowns Is a Form of Malinvestment

Booms and BustsWorld History

Blog11/05/2020

Central banks were already fueling artificial bubble growth and malinvestment in tech firms. Then the lockdowns sped up the trend even more.

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Why Asset Bubbles Involve So Much More Than Just Rising Prices

Booms and BustsMonetary Policy

Blog11/04/2020

What matters is not whether the emergence of a bubble is associated with price rises but rather the fact that the emergence of a bubble gives rise to nonproductive bubble activities.

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Ron Paul: Wisdom from a Master

Booms and BustsStrategyU.S. History

America today confronts an unprecedented crisis. Our economy is collapsing, and the fake coronavirus “epidemic,” with its draconian restrictions, is destroying our liberty. What can we do?

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Printing Money at a "Constant" or "Stable" Rate Won't Prevent Boom-Bust Cycles

Booms and BustsInflationGold Standard

Blog10/19/2020

Money printing—even at a constant rate—is going to generate the same result as any other money printing. The reason lies in the fact that money creation transfers wealth from productive to unproductive enterprises.

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The Fed and the Housing Bubble/Bust

Booms and BustsThe FedU.S. History

Blog10/01/2020

By flooding the market with cheap credit, Alan Greenspan pushed interest rates (including mortgage rates) down to artificially low levels. This caused the bubble in house prices and misallocated too many real resources to the housing sector.

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Turning to Keynes in this Crisis Will Only Make Things Worse

Booms and BustsMonetary PolicyProduction Theory

Blog09/19/2020

If policymakers finally let a real economic "correction" and recession happen, it means the economy will finally turn toward doing what the consumers actually want.

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