When governments go to war, the nation’s monetary system usually descends into the pit of inflation. The War of 1812 was no exception, and its monetary excesses led to the Panic of 1819.
In a recent interview with 60 Minutes, Fed chairman Jerome Powell gave assurances that the US banking system is sound. Ben Bernanke also claimed almost twenty years ago that real estate markets were not overextended. The hubris must be in the water at the Eccles Building.
Central banks have had the chutzpah to claim credit for slowing down the rise of consumer prices. The truth is they have taken advantage of the supply boost from fading pandemic dislocations to pursue continued monetary inflation.
Recorded in Tampa, Florida, on February 17, 2024.
Bob highlights some of the key issues from his recent ZeroHedge debate, and explains why he thinks his side won.
Ryan and Tho are joined by Doug French to discuss the health of US banks, the specific dangers of commercial real estate debt, and the risks of industry consolidation.
As the US banking system becomes increasingly unstable, the calls proliferate for even more government intervention into banking and finance. People forget that it was government intervention in the first place that caused these crises.
Joe Salerno joins Bob to discuss the mainstream's focus on "rules vs. discretion" in monetary policy.
Congressional Democrats are trying to intervene in a complex and varied market they know little about but that consumers navigate without need of help. This will not end well.
