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Booms and BustsMonetary PolicyProduction Theory
If policymakers finally let a real economic "correction" and recession happen, it means the economy will finally turn toward doing what the consumers actually want.
Decentralization and SecessionMedia and CultureStrategy
The task ahead is to demonstrate that whatever the sacrifices required to achieve more localized decision-making might be, centralization is too dangerous to continue.
The Fed plans to keep interest rates near zero, while monetizing debt, financing zombie companies, and pouring new dollars into the market. But that may not be enough.
Book ReviewsPhilosophy and Methodology
There is almost never clear evidence that a theory's predictions are false. You can always adjust something in the theory to make it come out true, and that is what all too many economists do.
Monetary PolicyTaxes and SpendingCapital and Interest Theory
Savings are the foundation for a productive and advanced economy. Unfortunately, governments insist on policies that make it harder for ordinary people to save.
Financial MarketsGlobal Economy
The United States currency has only really weakened relative to the yen and the euro, but that depends on optimistic expectations of a European and Japanese economic recovery.
The FedMonetary PolicyU.S. History
The Fed has abandoned its own rules on "price stability" in order to favor what are essentially higher inflation targets. The Fed is now headed down a road it traveled in the 1970s.
InflationThe FedMonetary Policy
A zero interest rate policy, unlimited asset buying, Wall Street bailouts, etc. This is a never-ending monetary accommodation that leaves you asking: What else will the Fed do after inflation averaging?