The futility of central bank policy
byIt is only now becoming clear to the investing public that the purchasing power of their currencies is declining at an accelerating rate. There…
Thanks to Bailouts, Wall Street Banks Are More Fragile than Ever
byThe financial covid crash of 2020 came and went in a month as the US government threw every monetary and fiscal trick it had at…
Monetary pumping and idle resources
byBy Dr Frank Shostak Resources that are utilized to promote economic prosperity in normal times become underutilized during recessions. Some experts are of the…
Austrian School Event at the Oesterreichische Nationalbank in Vienna
byThis week I’m in Vienna at the Austrian School convention at the central bank there. I’ll be giving a speech with Steve Baker MP…
Zero Hedge: Is Stagflation Here: Comparing The 2020s With The 1970s…
byNow that the fear of stagflation is a growing concern on Wall Street as the latest BofA Fund Manager Survey showed… … as the inflation debate…
Three Things the Fed Must Do to Normalize Bond Markets
byBy late in the second decade of the twenty-first century, we could say that the long-term US interest rate market had been dysfunctional for…
The nature of China’s social credit system
byChina’s new economic guiding principle, the dual circulation strategy, encompasses several ambitious goals, among them boosting domestic consumption and taking the lead in key…
Mike Shedlock: Investors Rush to Buy Nearly 1 in 4 Homes
byInvestors are buying huge percentages of existing home sales. Corelogic reports Single-Family Investor Activity Surges in the Second Quarter. Large investors (those who retain 100…
Money velocity and prices
byBy Dr Frank Shostak The yearly growth rate of US AMS jumped to almost 80% by February 2021 (see chart). Given such massive increase…
The stagflation myth
byDescribing evolving inflationary conditions as stagflation misses the point about today’s inflationary conditions. Stagflation was originally used only in the context of excessive wage…