Time to End Monetary Central Planning
byThere is no way to describe current Federal Reserve policy other than as monetary confusion and misdirection. In a nutshell, Janet Yellen and the…
Central Banking
Chapter 5: Economists and the Banking System, part 2: Adam Smith, some early Americans, and Friedrich List.
byThis chapter is about economics in transition. Economics means literally ‘housekeeping’ and most early writers on economics (roughly speaking before Adam Smith, 1723-90) treated…
Squashed
byAs a child I was fascinated by the concept of a neutron star. A neutron star is the tiny but immensely dense thing that’s…
Equity markets and credit contraction
byThere is one class of money that is constantly being created and destroyed, and that is bank credit. Bank credit is created when a…
Low Interest Rates Cannot Save a House of Cards
byWhen is the price of some marketable good or service at or near zero? When either the supply of it is so plentiful that…
Now What?
byThis piece, by Doug Noland, originated here http://creditbubblebulletin.blogspot.co.uk/2015/09/weekly-commentary-now-what.html September 18 – Reuters: “The world’s leading central banks are facing the risk that their massive…
Austrian Economics, Monetary Freedom, and America’s Economic Roller Coaster
byFor over a decade, now, the American economy has been on an economic rollercoaster, of an economic boom between 2003 and 2008, followed by…
Eugen von Bohm Bawerk: That 70s Show – Episode 3
bySource: http://bawerk.net/2015/08/22/that-70s-show-episode-3/ In the first episode we showed how the US became an unsustainable service sector based economy from the 1970s onward when service sector employment…
Eugen von Bohm Bawerk: That 70s Show – Episode 2
bySource: http://bawerk.net/2015/08/15/that-70s-show-episode-2/ In Episode 1 we showed how the US labour market changed dramatically from the 1970s on back of excess money printing which allowed Americans to…
Keeping the Bubble-Boom Going
byThe US Federal Reserve is playing with the idea of raising interest rates, possibly as early as September this year. After a six-year period…