The Looming Mortgage Liquidity Crisis
Everything is dandy if borrowers make their payments on their increasingly unaffordable homes. But will unemployment remain low forever?
Money and Banks
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Why Understanding Inflation Is So Important
Conflating "inflation" with a general rise in prices prevents understanding the true problem with inflation.
The End of Cheap Debt Will Bring a Wave of Bankruptcies
Even with falling interest rates and high liquidity, there have been spectacular bankruptcies, so imagine what can happen when rates rise.
Why Banking Is No Ordinary Industry
Special powers to inflate the money supply — granted by the state — make banking unlike other private industries.
Chief Powell Is Walking a Monetary Tightrope Blind
The new Fed Chief Powell was optimistic at Congressional hearings this week. But he may have inherited a quickly-expiring boom.
Will the Data Tell Us When the Next Bust Is Due?
The trigger to boom-bust cycles is central bank monetary policies and not some mysterious factors we can only tease out of statistical data.
The True Money Supply Is Flashing Red
The suppression of the TMS growth rate, if it is sustained for the rest of the year, portends another credit crisis and housing bust.
What Free-Banking Advocates Get Wrong
Free-banking systems may make bank runs less frequent, but do they prevent credit expansion, artificial booms, and economic recessions?
A Strong Euro Is A Headache for the ECB
A strong euro is not a problem for any European citizen. But it is a problem for the central bank.
How Central Banks Stoke Stock Prices
There are two important ways through which the central bank and its effectively inflationary machinations influence stock prices.
