The world seems to be on fire, and much of the trouble comes from the efforts of central banks to suppress interest rates. No one understands that problem better than British historian Edward Chancellor.
This is the "American dream" the Fed has given us: work more jobs and longer hours to keep paying those bills that are now growing at 8 percent per year.
Government inflation makes people’s responses much more delayed, leaving people’s value adding greatly degraded.
Turkey's economy is reeling under inflation rates likely reaching 170 percent. Not surprisingly, the worst of it is felt by regular people just trying to make a living.
What happens when banks lend money? It depends on the lending process itself. If lending comes about because of an expansion of credit, then it creates problems.
The world seems to be on fire, and much of the trouble comes from the efforts of central banks to suppress interest rates. No one understands that problem better than British historian Edward Chancellor.
The standard line is that the Federal Reserve System has two mandates, keep unemployment low and create price stability. Mark Thornton notes that the real agenda is found elsewhere.
What happens when banks lend money? It depends the lending process itself. If lending comes about because of an expansion of credit, then it creates problems.
The US dollar is not the world's "reserve" currency because of responsibility on behalf of the monetary authorities. Instead, the dollar's "strength" wages from the USA's self-appointed role as the world's protector.
Turkey's economy is reeling under inflation rates likely reaching 170 percent. Not surprisingly, the worst of it is felt by regular people just trying to make a living.
