Booms and Busts

Recorded at Mises University 2009.

Careful examination shows that, rather than protecting the economy, it is loose monetary policies that are the key source of boom-bust economic cycles.

It is savings — not demand — that enables the expansion of production of goods and services.

Fed economists — like mainstream macroeconomics in general — are intellectually bankrupt and clueless at best or dishonest propagandists at worst.

Just as Keynesians and financial commentators bemoan the fact that people are reacting to the current downturn and stock market crash by saving instead of spending and investing, Law did all he could to keep investors from fleeing his crashing Mississippi Company shares and battered currency.

Obama’s stimulus plan is equivalent to a giant welfare scheme.

The Federal Reserve System and those in charge of it at during the real estate bubble bear responsibility for major harm to tens of millions of Americans.

As it turns out, Krugman's apologists shouldn't demand more context for his notorious quotes, since it only shines even more light on how confused and backward he is as an economist.

The Keynesians have no leg to stand on.

"The beauty of an auction is that it's a very clear and simple example of what goes on every day in a free market — buyers and sellers meeting to negotiate a price."