Booms and Busts

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The Federal Reserve Now Is between the Proverbial Rock and a Hard Place

Booms and BustsThe FedBusiness Cycles

Blog07/21/2022

The great credit expansion Alan Greenspan began thirty years ago has finally run its course. The Fed no longer can expand credit to fight the oncoming recession.

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GDP Provides a False Reading of the State of the Economy

Booms and BustsThe FedBusiness Cycles

Blog07/19/2022

Most economists see GDP as a snapshot of the performance of the economy. However, it is better understood as a misleading statistic which fails to accurately describe what really is happening economically.

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Here We Go Again: The Fed Is Causing Another Recession

Booms and BustsThe FedInflation

Blog07/02/2022

After suppressing interest rates and creating asset bubbles for more than two decades, the Fed is now juicing up interest rates—and wrecking the economy.

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How Bad Were Recessions before the Fed? Not as Bad as They Are Now

Booms and BustsThe FedInflationBusiness Cycles

Blog06/28/2022

The Federal Reserve was supposed to prevent recessions that people blamed on the lack of central banking. Not surprisingly, the post-Fed recessions have been worse.

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Contra Ben Bernanke, the Gold Standard Promotes Economic Stability

Booms and BustsThe FedInflation

Blog06/27/2022

Ben Bernanke once claimed that a monetary gold standard caused economic instability. He failed to mention that his fiat money standard causes the boom-and-bust cycles.

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From the Eccles Building to Vegas: The Fed Enables the Worst Ponzi Schemes

Booms and BustsThe FedInflation

Blog06/21/2022

Peter Schiff once joked that Obama should have appointed Bernie Madoff secretary of the Treasury. The government's easy money policies ultimately lead to Ponzi schemes.

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The Inverted Yield Curve and Recession

Booms and BustsCapital and Interest Theory

Blog06/13/2022

Economists have failed to explain the mechanism by which an inverted yield curve signals an impending recession. But the Misesian explanation of the business cycle quite easily explains the pattern we observe in interest rates.

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Interest Rates Are Rising, but the Fed Continues to Be Reckless

Booms and BustsThe FedInflation

Blog06/10/2022

The Federal Reserve is raising interest rates in hopes of reversing some of the inflationary damage it has done for more than a decade. Unfortunately, the Fed already has done incalculable damage to the economy.

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Are Technology Shocks Responsible for Business Cycles? In a Word, No.

Booms and BustsEconomic Policy

Blog06/10/2022

The theory of real business cycles won a Nobel Prize, but it ultimately confuses cause with effect.

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Austrian Economists Are Not Surprised by the Shortages

Booms and BustsCoordinationBusiness Cycles

Blog05/23/2022

While supporters of the Biden administration fault Putin for shortages, Austrian economists know the answer lies in Washington's monetary and economic mismanagement.

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