High Prices and Zombie Housing
This odd mix of rising prices and three months of vacant inventory being ransacked by squatters is not how markets work, unless government is involved.
Money and Banks
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More Populism Might Have Produced a Better Fed Chair
Trump's selection of Jerome Powell highlights a flaw in Hayek's strategy to change public policy through "second hand dealers of ideas."
Two Reasons Why The Mexican Peso Appreciated in 2017
After a rough 2016, the Peso has made gains in 2017.
Can Gradual Interest-Rate Tightening Prevent a Bust?
Tightening the money supply "too fast" is not what causes economic busts. Creating money "out of thin air" is the real problem.
Obama Administration’s Bank Regulation Still Widening Gap Between Rich and Poor
Few presidencies have ever done more to widen the gap between rich and poor than Barack Obama.
Price Inflation Is Not the Worst Part of Easy Money Policy
The uneven distribution of new money causes bubbles, all the while also driving asset price inflation.
In Fed We Trust
At this point, does anyone believe the Fed is willing to do anything that might really spook markets?
The Latest Innovation in Inflation Targeting
The two-percent inflation goal is now being modified to allow for even higher inflation goals in the short term.
Low Interest Rates Subsidize Wealthy Households
Wealthier households are often able to benefit more from low interest rates than can lower-income households.
The Next Generation of Currency Wars: Private vs. State-backed Crypto
The revolutionary nature of cryptocurrency is at risk as governments around the world aim to co-opt it.
