Is demand independent of production?
byFollowing the ideas of John Maynard Keynes and Milton Friedman, many commentators associate economic growth with increases in the demand for goods and services….
Economics
How Central Banks Created a $250 Trillion Global Debt Bubble
byWe created this animation a couple of years ago which we have used in various settings. Feel free to forward around as a brief…
The Fed Is Planning Another Ultralong Period of Ultralow Rates
byJerome Powell fielded questions from reporters Wednesday, and he made it clear that the Fed is a long, long way from abandoning its current…
Is diversification the heart of investment?
byAccording to the Modern Portfolio Theory (MPT), financial asset prices always fully reflect all available and relevant information, and that any adjustment to…
Milton Friedman and the New Attack on Freedom to Choose
byWe are in the midst of an open counterrevolution against liberty and limited government in the United States. This may sound like strong language…
Keynesian ideas can only make things worse
byIn the New York Times on September 8, 2020, Paul Krugman suggested that “The CARES Act, enacted in March, gave the unemployed an extra…
Inflation and Marxism
by“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch its currency….Lenin was certainly right. There…
America’s Fiscal Follies are Dangerously in the Red
byThe Congressional Budget Office has recently issued a federal “Budget Outlook Update” for the next ten years in the context of the government’s fiscal condition in…
Why trade balance is not the essence of currency exchange rate determination
byIn July this year the US trade balance stood at a deficit of $63.6 billion against a deficit of $51 billion in July…
Step-change at the Fed – Reaching for the stars
byThe Federal Reserve has changed the emphasis of their dual mandate Inflation targeting will become more flexible in the long-run Full employment has…