Booms and Busts

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.

Alex Pollock joins Jeff to describe the reality of the housing market that few Americans know

By all measures, the economic downturn that began in 1920 was worse than what occurred in 1930, yet the economy recovered quickly in 1921. Why the difference?

Unemployment remains low but for the wrong reasons. Low unemployment rates are not a sign that the economy is doing well.

For nearly two decades, business, academic, and political elites have spread the fiction that central banks can engineer prosperity by printing more money. Markets now are discrediting that fairy tale.

By all measures, the economic downturn that began in 1920 was worse than what occurred in 1930, yet the economy recovered quickly in 1921. Why the difference?

For nearly two decades, business, academic, and political elites have spread the fiction that central banks can engineer prosperity by printing more money. Markets now are discrediting that fairy tale.

An upcoming recession likely will lead to falling asset prices. But these price decreases do not cause recessions, but rather are a result of them.

Cheap money in the last decade has meant good times for companies that barely make money and hire employees who barely work. But those times are now ending. 

Jeff and Bob record a special Thanksgiving on what it really takes to fix the US economy.