Bernanke’s Legacy: A Weak and Mediocre Economy
The Wall Street Journal has evaluated the Greenspan and Bernanke era and awarded it a well-deserved “F.”
The Fed
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32. How Central Banking Hides the Cost of War
Section Four: Money and the State. Narrated by Harold L. Fritsche.
36. Why the Government is Responsible for the Sub-Prime Mortgage Meltdown
Section Four: Money and the State. Narrated by Harold L. Fritsche.
34. The Myth of a “Libertarian” Fed
Section Four: Money and the State. Narrated by Harold L. Fritsche.
30. Central Banking as an Engine of Corruption
Section Four: Money and the State. Narrated by Harold L. Fritsche.
35. The Myth of the “Independent” Fed
Section Four: Money and the State. Narrated by Harold L. Fritsche.
More of the Same From the Keynesians in 2014
Keynesians enthusiastically point to government as the solution for the faltering recovery.
We Will Be Told Hyperinflation is Necessary, Proper, Patriotic, and Ethical
Each round of money printing eventually feeds back into the price system, creating demand for another round of money printing, and another, with each increase larger than the previous one. The law of diminishing marginal utility applies to money as it does to all goods and services.
New Fed Chair Starts With—What Else?—A Forecast
Janet Yellen celebrated her confirmation as Fed Chairman on January 6 by immediately issuing a carefully hedged prediction: “I am hopeful that the
Current Fed Policy: An Exercise in Keynesian Folly
The Bernanke Fed followed Keynes’s advice. The way to avoid a new slump is to keep interest rates low for as far as the eye can see as a way to overcome a lack of “animal sprits” and thus sustain a quasi-boom. As long as inflation is low, no harm, no foul. In fact, as the thinking goes, more inflation might be beneficial.
