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Booms and BustsInflationBusiness Cycles
An upcoming recession likely will lead to falling asset prices. But these price decreases do not cause recessions, but rather are a result of them.
Keynesian economists claim that deflation is as bad or worse than inflation. But deflation not only reverses inflation's bad effects but also allows new wealth creation.
Booms and BustsCentral BanksMonetary PolicyBusiness Cycles
The 2004 Nobel Prize in economics was awarded to two economists for their claim that "technology shocks" cause boom-bust cycles. They have it wrong.
Falling prices ultimately lead to an increase in savings and to the creation of new wealth.
Central BanksInflationMoney and Banks
What happens when banks lend money? It depends the lending process itself. If lending comes about because of an expansion of credit, then it creates problems.
The FedInflationMonetary Policy
While officials in the White House, Treasury, and the Fed give the appearance of being in control, but in truth, they cannot undo the damage they have done.
Central BanksInflationMonetary Policy
Why does money have value? Typical economists claim that money is valuable because the government declares it so. But that is impossible, given the true origins of money, which are best explained by Austrian economists.