Booms and Busts

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Mark Thornton
Half-empty office buildings on the rise in Calgary, Edmonton amid oil price plunge
Mark Thornton

Thirteen powerpoint slides lead you through Dr. Thornton's presentation. There exist strong correlations between either the announcement or the completion of the world's tallest building and GDP, but it is not held that you can accurately forecast a recession or financial panic by this measurement. Thornton suggests the common cause is artificially low interest rates.

Frank Shostak

Our method of calculating GDP growth is hopelessly flawed, and is more likely determined largely by the growth of the money supply in the economy. So as the Fed pumps more, the economy appears to grow also.

Mark Thornton
With the tech industry awash in cash and 100 “unicorn” start-ups now valued at $1 billion or more, Silicon Valley can’t escape Nick Bilton reports.
Jeff Deist

Economics is not a popular topic among the general population. When economics is discussed at all, it’s in the context of politics — and politics gives us only the blandest, safest, most meaningless platitudes about economic affairs. The 2016 campaigns will be no different.

Mark Thornton

College towns like Auburn, Alabama are booming with more luxury apartments and seemingly more of everything else, too. But the story really began far away in Washington, DC where the Federal Reserve targets interest rates.

Murray N. Rothbard

The crash of 1929 came after a decade of interventionist politics following world War I. "Free markets" were blamed anyway. Decades later, we pursue even more interventionism, and when it fails, we blame "free markets" all over again.

Frank Shostak

Consumer prices have been stable, but we should pay attention to 2014's decline in the money supply which mirrors a similar decline from 1927 and 1928, which was followed by a collapse in industrial production.