As artificially low interest rates damage the economy, progressives in Congress demand more of the same. In the vernacular, they want the economy to “take the hair of the dog that bit them.” Of course, this only makes things worse in the long run—which is where we are today.
Mark takes another look at the Producer Price Index.
Although fractional reserve banking is the most popular model for banking, it is fraudulent at its core, something the Austrians have noted for many years.
One of the great myths of US history is that Herbert Hoover was a laissez-faire president. In truth, he intervened in the economy more than any of his predecessors, creating the crisis known as the Great Depression. His successor made things even worse.
Two new books, The Lords of Easy Money and The Price of Time, while not specifically Austrian, present readers with financial scenarios that mesh well with the Austrian business cycle theory.
The inflation news from the Federal Reserve is once again disappointing.
Despite the usual cheerleading from the Biden-supporting mainstream media and academic economists, the US economy is in trouble, and everything Biden is doing makes things worse. Harder times are coming.
The Fed has created its own narrative for far too long. This is why we are making our new Federal Reserve documentary. Help us meet our fundraising goal.
As artificially low interest rates damage the economy, progressives in Congress demand more of the same. In the vernacular, they want the economy to “take the hair of the dog that bit them.” Of course, this only makes things worse in the long run—which is where we are today.
While Vivek Ramaswamy was unsuccessful in his Republican presidential primary bid, at least he helped to demystify the Federal Reserve. This is not the usual political rhetoric the public receives.
