Booms and Busts

The empty shopping mall: a story of how government actions created a huge malinvestment in western Pennsylvania.

Mark Thornton discusses the history of record low unemployment rates and the business cycle.

Economists and pundits mistakenly call the Federal Reserve System's security holdings a portfolio. It is anything but.

Will the Fed be successful with its "Immaculate Disinflation"?

While President Joe Biden's White House continues to give happy talk about the economy, some major economic storm clouds are brewing. The future does not look good.

The empty shopping mall: a story of how government actions created a huge malinvestment in western Pennsylvania.

Ryan and Tho talk to Mark Thornton about what to expect from the next recession and how we got ourselves into the current inflationary mess.

While an increase in the supply of gold money would lead to higher consumer prices, such increases in the gold supply do not lead to boom-bust cycles.

Keynesian economists fantasize that a market economy cannot "gain traction" without "stimulus" schemes from the government. In the end, the only thing stimulated are inflation and recession.

Poplular history says that massive government spending—made possible by ending the gold standard—ended the Great Depression. As usual, popular history is wrong.