Bad Monetary Policy Is Redundant
"Through Fed monetary policy, the dollar is cheapened to produce an economy on steroids that eventually breaks down."
"Through Fed monetary policy, the dollar is cheapened to produce an economy on steroids that eventually breaks down."
By whatever name you call it, this massive "pump priming" by the US monetary authorities will engender exactly the same results it always has: malinvestment, dollar debasement, and speculative mania.
Discarding the possibility of a change in public labor policy, the only means of restoring equilibrium in the labor market is through a sustainable increase in aggregate demand for labor — an increase in private investment.
"Deflation is one of the great scarecrows of present day economic policy and monetary policy in particular,"
Indeed, deplorable conditions existed, but one must not blame the factory owners, who did all they could to eradicate them.
Shows how Austrian economics is basis of Skyscraper Index, which has correctly predicted most economic and housing crises of 20th century.
Looks at causes of the 1929 crash and ensuing depression, with lessons for today. Recorded at Mises University 2010.
Recorded at Mises University 2010. Includes an introduction by Llewellyn H. Rockwell, Jr.
Combine loose money with flawed financial theories and the creation of byzantine financial products, and ultimately modern financial alchemy "has a distinctly statist and paternalist tone, and one which, taken to its logical conclusion, implies the establishment of nothing less than a world government with the power to redistribute most of our income at will," explain the authors.