In this article we have shown that causality cannot be established by statistical means without a coherent definition of what money is and how it is related to the prices of financial assets. Contrary to various experts who dismiss the importance of money in driving the stock prices, we have shown that this dismissal is based on a wrongheaded framework of thinking.
In other words, in seeking to boost sales by exploiting the possibilities of modern finance (in a perfectly legal manner), GMAC and Ford Motor Credit, GE and John Deere (among countless others) may have misled our preening, erstwhile Maestro into financing the whole wasteful bubble of the late 1990s!
Thanks to Sarbanes-Oxley,
Danilo Nogueira provides a brief history of the Brazilian inflation in The Language of Inflation
Gold is not money, writes Sean Corrigan, and this is one reason we are on a path where genuine entrepreneurialism and the creation of real wealth are very much hampered.
Hans-Hermann Hoppe explains the neglected role of insurance in a free market economy. Any insurance involves the pooling of individual risks by the market, a task the state can only distort.
