Money and Banks

June was the fifteenth month in a row during which price inflation outpaced earnings growth. June's gap is also among the biggest we've seen in decades.

It's going to take more than a 0 percent policy interest rate and a newly invented name for QE to really address years of monetary inflation. 

June was the fifteenth month in a row during which price inflation outpaced earnings growth. June's gap is also among the biggest we've seen in decades.

The relative lack of inflation in Japan doesn't mean real wages haven't fallen.

The relative lack of inflation in Japan doesn't mean real wages haven't fallen.

Tightening the interest rate hurts both bubble and solid businesses. The Fed should just focus on reducing the money supply.

Jeff and Bob discuss the effect of rising interest rates on Uncle Sam's ability to service debt—and promote the increasingly less radical idea that a default on Treasury debt is both inevitable and good.

Real deflation—both monetary inflation and price inflation—is necessary, and that can only be accomplished if the Fed can resist the temptation to keep doing what it's been doing since 2008.

The Federal Reserve was supposed to prevent recessions that people blamed on the lack of central banking. Not surprisingly, the post-Fed recessions have been worse.

Ben Bernanke once claimed that a monetary gold standard caused economic instability. He failed to mention that his fiat money standard causes the boom-and-bust cycles.