As anger builds at the arrogance of central bankers, it’s becoming ever clearer that there is no plan for monetary policy to return to “normal.” As Robert Murphy explained at our recent event in Houston, the Fed’s magic trick just won’t work.
Wilhelm Röpke died on this date fifty years ago. He was an excellent economist thoroughly grounded in a realistic view of human action and who, therefore, continually fought against the dehumanizing effects of Keynesian and mathematical economics.
In this respect, the European Commission is actually less bad than the US government. The EU apparently still uses 500-euro notes, whereas the Us abolished it's $500 and $1,000 notes back in the 1930s.
Drafting women into the military has suddenly become the latest frontier in achieving "equality." If we want real equality though, we need only agree to never force men into coerced service to the state, either.
In spite of negative interest rates, Europe's central bank will again attack real wealth generators in order to blow more bubbles.
Now that major central banks such as the Bank of Japan and the European Central Bank have introduced negative interest rates, it may only be a matter of time before the Federal Reservedoes the same thing. If that happens, expect many more years of monetary easing.
Rothbard's book is considered the standard on the subject of the 1819 crisis, yet the NY Fed authors seem reluctant to speak his name.
