Financial Markets

High CPI inflation, popular explanations and their problems, and M1 vs. M2.

It's going to take more than a 0 percent policy interest rate and a newly invented name for QE to really address years of monetary inflation. 

"If recovery is to be maintained and future progress assured, there must be a more or less complete reversal of contemporary tendencies of governmental regulation of enterprise."

Jeff and Bob discuss the effect of rising interest rates on Uncle Sam's ability to service debt—and promote the increasingly less radical idea that a default on Treasury debt is both inevitable and good.

The United States economy may have delivered no growth in the first half of 2022 after the decline in the first quarter, narrowly avoiding a technical recession.

The relative lack of inflation in Japan doesn't mean real wages haven't fallen.

Anyone who doubts whether we are in a recession can stop doubting. The Fed's reverse repos show that we're headed for a crash.

Forget Jerome Powell's fanciful "soft landing" or the notion that the Fed can pull another rabbit from its hat. The banking system is headed for a crash and monetary authorities likely will make things worse.

Adherents of MMT present their ideas in the form of a hydra. Shoot down one idea and another pops up that is just as preposterous. This is no accident.

As the economy begins to slow, the results of the Fed's money pumping are showing up in mergers and acquisitions.