Today’s Wealth Destruction Is Hidden by Government Debt
The transfer of bad debts to the balance sheets of governments and central banks cannot undo the destruction of wealth.
Global Economy
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Germany’s “Dangerous” Current Account Surplus
If Germany has competitive labor costs and can build a better widget, where is the problem?
Are Bubbles Caused by Psychological Problems?
How does one know when a bubble is forming? Could it be as simple as applying a psychologist’s diagnosis?
Europeans Looking To Inflate Their Debts Away
European politicians and central bank policy-makers seek to maintain a monopoly over the power to create money.
Central Banks: The True Centers of Political Power
Central banks are becoming the real centers of political power.
Inflation Has Not Cured Iceland’s Economic Woes
By late 2010, inflation-adjusted income in Iceland was down over 35 percent. Inflating one’s currency may give the appearance of recovery, but the truth is somewhat less rosy.
Economies are Not Destroyed in a Day
Most economists and policy analysts seem to have a superficial reading of economic variables.
To Save Europe, Free the Markets
No government planner can compete with the resource allocation efficiency of a market system.
How Much Longer Will the Dollar be the Reserve Currency?
The dollar is very susceptible to losing its vaunted reserve currency position.
How the Fed Causes Booms and Busts in South America
The two largest economic crises in Latin America in the last 60 years occurred after the two largest periods of loose monetary policy by the Fed: 1980 and 2009.
