Please, Not Another FDR
It is paramount for a free society to ensure, in the marketplace of ideas, that only good ones, based on sound theory and history, take root.
Booms and Busts
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Why the Fed Can’t Do What It Wants to Do
The increase in monetary pumping however sets in motion a new boom-bust cycle. Also, once economic activity starts to recover on its own (as a result of the improvement in the pool of real funding) any "help" from the Fed can only slow down the process of recovery.
The War on Recession
So it was in 1920 and 1921. The government didn't intervene and voila normalcy returned.
The Fed’s New Tricks Are Creating Disaster
We define a bubble as the outcome of activities that have emerged on the back of loose monetary policy of the central bank.
Inflation Is a Policy that Cannot Last
If a thing has to be used as a medium of exchange, public opinion must not believe that the quantity of this thing will increase beyond all bounds. Inflation is a policy that cannot last.
What You Should Know About Inflation
Inflation, to sum up, is the increase in the volume of money and bank credit in relation to the volume of goods. It is harmful because it depreciates the value of the monetary unit, raises everybody's cost of living, imposes what is in effect a tax on the poorest (without exemptions) at as high a rate as the tax on the richest, wipes out the value of past savings, discourages future savings, redistributes wealth and income wantonly, encourages and rewards speculation and gambling at the expense of thrift and work, undermines confidence in the justice of a free enterprise system, and corrupts public and private morals.
The Crisis Point of the Inflationary Boom
To recap, what then we find is that not only does the availability of financial capital become wholly divorced from the extent of the pool of physical capital goods; not only does much of that pool become misused (and, hence, ultimately, stripped of its original "capitalness"); but that the wellspring of capital maintenance and augmentation — namely, voluntary saving — is concreted over to provide a gaudy, Baroque fountain of greater exhaustive consumption.
