A Circus of Errors
As the Fed engages in rollercoaster monetary policies, the errors that build up during the Fed-induced boom turn into a veritable “circus of errors.”
The Fed
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Krugman: Low Unemployment Causes Inflation, Not Monetary Expansion
Paul Krugman claims that the real factor determining inflation is the rate of unemployment, not increases in the supply of money. As usual, he is wrong.
Private REITs Hide Commercial Real Estate Distress While Begging for Bailouts
The Fed-launched real estate bubble did not just create havoc in residential markets, but also has distorted the commercial real estate market, too. And it is getting worse.
Getting the Great Depression (Almost) Right—And Totally Wrong
Few economists—even the free-market advocates—understand what caused the Great Depression. No, the Fed didn’t cause the Depression by failing to inflate the currency. Instead, it was the Fed’s inflation that led to the disastrous early events.
Hubris Runs Rampant at the Fed
In a recent interview with 60 Minutes, Fed chairman Jerome Powell gave assurances that the US banking system is sound. Ben Bernanke also claimed almost twenty years ago that real estate markets were not overextended. The hubris must be in the water at the Eccles Building.
The Fed Has Busted Housing Bubble 2.0
If the housing market is an indicator, the Fed's actions in slowing down the housing market soon will be reflected in the economy itself.
Hubris Runs Rampant at the Fed
In a recent interview with 60 Minutes, Fed chairman Jerome Powell gave assurances that the US banking system is sound. Ben Bernanke also claimed almost twenty years ago that real estate markets were not overextended. The hubris must be in the water at the Eccles Building.
The Fed vs. the Real Economy
Mark looks at the disconnect between the Fed, the stock market, and the Real Economy.
