JOIN OR RENEW TODAY
Cheap money in the last decade has meant good times for companies that barely make money and hire employees who barely work. But those times are now ending.
The Federal Reserve has not only mismanaged the US economy; even its own "portfolio" is underwater.
One might assume that new rounds of monetary stimulus will bring new peaks in housing construction, reversing the ongoing housing shortage. That hasn't happened.
Value is a moving target because consumers want change over time and innovations and new opportunities. The constant adjustments mean the market is best understood as a process.
The FedU.S. HistoryWar and Foreign PolicyWorld History
Historians praise the US entry into World War I because it enabled an Allied victory. But it also led to the economic disasters of the 1920s and ’30s.
Central BanksThe FedInflationCapital and Interest Theory
The Fed's predictable response to inflation is based on erroneous economic thinking common with Keynesians. Only a free-market approach can reduce inflation and restore true market interest rates.
Monetary PolicyU.S. History
The author recalls the 1922 peace dollar his grandfather gave him sixty years ago. Real money.
We should not conflate management with entrepreneurship. It is an error to misconstrue the market process as mere production management.