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.
Money and Banks
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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.
Is Money Creation Fueling the Stock Market Surge?
In order then to have a general increase in prices, all other things being equal, there must be an increase first in the money supply.
Central Bank Musical Chairs
Reversing trillions of dollars of securities purchases will create turmoil. And now that price inflation is in equation, the ride will be bumpy.
What Is Optimal Monetary Policy, Anyway?
Economists usually sneak in their own value judgments when claiming they are for objectively "optimal" monetary policy.
Should We Use Probability in Economics?
The numerical probability is only relevant in the sphere of non- economics where homogeneous cases are observed.
