Fed Accountability Is a Farce
byBy Robert Aro The Fed claims they are “accountable to the public and the U.S. Congress.” But what good is accountability, if the public…
Why the New Economics Just Boils Down to Printing More Money
by[Editor’s Note: this article is adapted from a 2003 essay in the Quarterly Journal of Austrian Economics entitled “New Keynesian Monetary Views: A Comment.” As economists…
Tragedies of Our Time: Pandemic, Planning, and Racial Politics
byAn old adage says that tragedies often come in threes. Certainly, the first half of 2020 has seen a version of this. First, the…
Savings the heart of economic activity
byIt is held by most mainstream economists that spending is the heart of economic activity. Economic activity is depicted as a circular flow…
Not Just Retail: Hedge Funds Flood Into Stocks; Net Leverage Highest In Over Two Years
byFrom Tyler Durden at Zero Hedge On Friday we officially entered the blow-off top phase of the current meltup: between a record surge in Nasdaq volume……
Governments Have Crippled the World’s Economies. Revolution May Soon Follow.
byThe world seems to be on fire. A couple of months ago, the economic upswing was still firmly established, production expanded, and unemployment was…
A Brave New World for Value Investing
byStock markets have rebounded from their March lows on fiscal and monetary stimulus Corporate bond spreads have narrowed in their wake The prospect…
Mario Draghi’s Economic War Against COVID-19
byby Elisabeth Krecké On March 25, 2020, with the world economy paralyzed, Mario Draghi emerged into the spotlight for the first time since stepping…
Importance of a theory in economics
byIt is a common belief that sound economics must be based on facts and not on theoretical reasoning as such. Some commentators are…
Three little words
by“As I’ve written in past memos, I have an indelible recollection of the first book I read as a Wharton freshman in 1963. The…