Rationalizing ‘Rational’
byWalter W. Heller was said to have been an “educator of Presidents.” As an economist and Presidential advisor in the inner circles of DC,…
Central Banking
bawerk.net: Tough Choices: Peg or Banking Crisis?
byDuring the reign of the mighty petro-dollar standard, it was necessary for major oil exporters to recycle their dollar holdings back into the dollar-based…
Central Bankers Claim: Things Are Better than You Think
byIn our time, the greatest source of money chaos is now the global 2%-inflation standard. Deflation-phobic central bankers, led by the FOMC at the…
Is deflation about decline in prices?
byThe majority of economists view deflation as a general decline in prices of goods and services. This is viewed as a major threat to…
Chapter 7: Secrets, Ignorance and Lies: Money, Credit and Debt.
by“The tyranny of fraud is not less oppressive than that of force.” John Taylor of Caroline, Virginia, 1814. Our system of money-creation…
It’s Not Stupidity, It Is Apathy (For Now)
byTen days ago, it was reported that the Bank of Japan for the first time set aside reserves against expected losses should its massive…
Fed Suppression, Long Term Economic Repression
bySource: http://bawerk.net/2016/05/19/fed-suppression-long-term-economic-repression/ The Federal Reserve really wants to raise rates, but they do not dare as the consequence of interrupting an unprecedented level of capital…
Raghuram Rajan: “The Ammo Is Almost Gone”
bySource: http://www.zerohedge.com/news/2016-05-16/mutiny-among-magic-people-india-central-banker-admits-ammo-almost-gone The self-described “magic people” who “give to the markets” are facing a mutiny this morning as Raghuram Rajan, the head of the Indian…
The Endgame
byThere is a growing fear in financial and monetary circles that there is something deeply wrong with the global economy. Publicly, officials and practitioners…
Free Markets Do Not Need Negative Interest Rates
byMartin Wolf, associate editor and chief economics commentator at the Financial Times, seems to have forgotten the nature of interest rates and their coordinating…