The Economy is in Liquidation Mode
byIf you’re an American over a certain age, you remember roller skating rinks (I have no idea if it caught on in other countries)….
Yield Purchasing Power: $100M Today Matches $100K in 1979
byI wrote a story about poor Clarence who retired in 1979, and even poorer Larry who retired last year. I created these characters to…
Economic bust and stable price levels
byThe yearly rate of growth of the personal consumption expenditure (PCE) price index adjusted for food and energy stood at 1.3% in June –…
Gibson’s paradox: the consequences
byWe now have an explanation for Gibson’s paradox (posted here), a puzzle that has defeated mainstream economists from Fisher to Keynes and Friedman. The…
Eugen von Böhm-Bawerk: That 70s Show – episode 1
byFrom Eugen von Böhm-Bawerk’s blog. Source: http://bawerk.net/2015/08/05/that-70s-show-episode-1/ In several articles we have shown how the world changed from the 1970s with the breakdown of the old…
Still dancing?
by“Bubbles are the only things that matter. The rest of it is boring. You show up for work, markets are at normal levels, and…
The German Miracle vs. the Welfare State
by[Editor’s Note: The following is by Ludwig Erhard, one of the most important economists of the twentieth century and mastermind of the German economic…
The Unseen Consequences of Zero-Interest-Rate Policy
bySource: Ronald-Peter Stöferle at https://mises.org/library/unseen-consequences-zero-interest-rate-policy In a dynamic economy, an action not only triggers just one effect, but always an entire series of different consequences….
GoldMoney white paper: Gibson’s paradox resolved
byA new white paper resolving Gibson’s paradox is posted on GoldMoney’s site, here: https://www.goldmoney.com/images/media/Files/GMYF/Gibsons%20Paradox.pdf The full ramifications will take further analysis and thinking, but…
Eugen von Böhm-Bawerk: How the FOMC got institutionally corrupt
byFrom Eugen von Böhm-Bawerk, source here: http://bawerk.net/2015/07/16/how-the-fomc-got-institutionally-corrupt/ The Humphrey-Hawkins Full Employment and Balanced Growth act signed into law by President Jimmy Carter on October…