The usual "experts" claim inflation is a general increase in the price level. Wrong. Prices rise because of inflation, which is a government-caused increase in the amount of money in circulation.
Despite assurances from politicians and the media, the Federal Reserve System is not a collection of geniuses who stand guard against inflation and recession. Instead, think of the Fed policy makers as the Keystone Cops of central banking.
Paul Krugman recently wrote that the reason we see high inflation is that people mistakenly believe inflation is in our future and act accordingly. This reasoning is false.
The usual "experts" claim inflation is a general increase in the price level. Wrong. Prices rise because of inflation, which is a government-caused increase in the amount of money in circulation.
Jeff and Bob discuss the dynamics of the housing market in the context of a recent talk by Alex Pollock.
No matter the historical era, governments have excelled at one thing: debasing their own currency. Rome was no exception, as Roman government excesses required inflation—lots of inflation.
Current rates of inflation are worse than what the government claims. Not surprisingly, the government gains when people are fooled.
The Fed is, effectively, a car driving at night, very fast, with no headlights. That is a real threat, probably to an unprecedented degree.
In this episode, Ryan McMaken and Tho Bishop dive into the politics of inflation.
In this episode of Radio Rothbard, Ryan and Tho trade predictions for the year ahead.
