Booms and Busts

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Frank Shostak

Contrary to Milton Friedman’s thesis that the decline in the money supply caused the Great Depression, the real reason was the collapse of real savings, which was due to loose monetary policies by the Federal Reserve.

Frank Shostak

Keynesian economists have no good explanation for stagflation, rising rates of both inflation and unemployment. However, the Austrian School has long pointed out that sustained inflation has a predictable pattern that leads ultimately to stagflation.

Douglas French

The endless bubble economy has a new lending craze: loans backed by AI chips. The problem is that while the chips serve as collateral, companies right now cannot make enough revenue to cover their costs.

Douglas French

Construction lending juggernaut Bank OZK made news when its shares fell 17% after Citigroup analyst Benjamin Gerlinger wrote in a report that