The Fed

Somewhere around 1980, debt began climbing far faster than GDP. It is simply not possible to grow your debts faster than your income forever.

The transfer of bad debts to the balance sheets of governments and central banks cannot undo the destruction of wealth.

How does one know when a bubble is forming? Could it be as simple as applying a psychologist’s diagnosis? 

Ms. Yellen wears the intellectual blinders of the mainstream macroeconomist. We can look forward to the Fed blindly fueling asset bubbles.

Interviewed by Scott Horton, Mark Thornton discusses why we need to lower the debt ceiling; the dangers of a depreciating dollar; why the NSA’s spy

The dollar is very susceptible to losing its vaunted reserve currency position.

A default on US government debt is no more or less radical than a default on any other kind of debt.

The financial crisis was the consequence of monetary central planning writ large. To avoid future crises, shutter the Fed.

The two largest economic crises in Latin America in the last 60 years occurred after the two largest periods of loose monetary policy by the Fed: 1980 and 2009.

The Fed made a monumental mistake, and does not know how to get out of the trap it set upon itself.