Financial Markets

Since it's so important, the main point just made needs to be repeated: credit expansion creates an artificial economic inequality by showing up in the stock market and driving up stock prices. Since the stocks are owned mainly by wealthy people, they are the main beneficiaries of the process. The more substantial and the more prolonged the credit expansion is, the larger are the gains enjoyed by wealthy people more than anyone else.

The insufferable Henry Blodget, the disgraced

Although most commentators concede that the free market does a decent job providing regular goods and services day in and day out, for some reason

Markets are ruthlessly efficient, meaning in large part that people will not undertake investment proj

Investments pay you money every month. Homes are just the opposite – money pits.

Mises said that such a monetary policy would ultimately end in the destruction of the exchange value of money.

Inflation, in case we've forgotten, is robbery by another name.

Here's what I would like to see: the whole of Wall Street rising up against the Fed and demanding that it turn off the spigots and let the economy get back on an even keel. Let the correction happen and let profits and wages fall in the overblown sectors.

As late as 1999, oil was trading at $10 per barrel and gold at $250 per ounce, down from their nominal peaks in 1980 of $39 and $850 respectively.