Booms and Busts

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Government Victims and Entreprenurial Failure: Two Types of Conoranvirus Bankruptcies

Booms and BustsEntrepreneurship

Blog04/14/2020

The coronavirus crisis has unleashed two types of bankruptcies that are very different, have different causes, and should require different solutions.

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Central Banks around the World Embrace Unprecedented "Quantitative Easing"

Booms and BustsMonetary PolicyMoney and Banks

Blog04/14/2020

From New York to London to Brussels to Tokyo, central banks in the last two weeks have embraced a wide variety of extraordinary inflationary measures to prop up insolvent banks and governments.

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The Fed's Balance Sheet Skyrockets as It Doubles Down on Inflating Asset Prices

Booms and BustsMoney and Banks

Blog04/13/2020

The Fed's portfolio is now 35 percent larger from the time the Fed promised to "taper" back its portfolio and "normalize." It is increasingly clear that there will not be any normalization. Ever.

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Builders in Denial

Booms and BustsFinancial Markets

Blog04/13/2020

This year, as in 2006, the real estate industry is in denial about the state of the economy.

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The Pandemic Exposed the Frailty of the Financial System

Booms and BustsFinancial Markets

Blog04/04/2020

Contrary to Fed assumptions, we are not presently facing a problem of liquidity vis-à-vis Great Recession; we are confronted, instead, with a serious shortage of quality collateral.

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The Fed Is Running Out of Bubbles to Create

Booms and BustsMoney and BanksMoney and Banking

Blog04/03/2020

With each passing recession, the Fed finds it harder to refuel the last bubble, but the market moves on to the new bubble as the Fed keeps interest rates artificially low.

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How Easy Money Is Increasing the Devastation of the COVID-19 Panic

Booms and BustsInflationMonetary Policy

Blog04/02/2020

Central banks have created a brittle economy without real savings and without much room to maneuver. Central banks now want more of the same in a bid to fix what they broke.

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With Bailouts, Governments Are the Big Winners

Booms and BustsMonetary PolicyMoney and Banks

Blog03/24/2020

Every crisis caused by the unbacked paper money system expands the power of the states over economic and social life, and unfortunately, once the state has expanded its power, it is unlikely the trend will be reversed.

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The Fed Has Sufficient Tools—to Wreck the Economy

Booms and Busts

Blog03/17/2020

These famed "tools" of the central bank are nothing but cunning and arcane techniques for conjuring additional trillions of dollars out of thin air and pumping them into the global economy.

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The Coronavirus Won't Be the Cause of the Next Bust, but It Will Make It Worse

Booms and BustsMonetary Policy

Blog03/12/2020

Although shocks can disrupt the pace of economic activity, they have nothing to do with the phenomenon of recurrent boom-bust cycles. The cycle requires something more. A central bank, for instance.

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