“Prolonged inflation never “stimulates” the economy. On the contrary, it unbalances, disrupts, and misdirects production and employment. Unemployment is mainly caused by excessive wage rates in some industries, brought about […]
“Prolonged inflation never “stimulates” the economy. On the contrary, it unbalances, disrupts, and misdirects production and employment. Unemployment is mainly caused by excessive wage rates in some industries, brought about […]
“In light of Bernanke’s plans to purchase $600 billion of longer-term government debt, many academic economists are beginning to worry: Could the Federal Reserve itself become insolvent? In this article […]
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“The question of China’s artificially low interest rates and currency and its effects on economies will be left for another day. However, we would like to call your attention to […]
“Sure, buying and selling government debt in the open-market is how central banks control short-term interest rates. That’s why the Fed Funds rate is a target, and the actual outcome […]
“We are entering an era of high inflation, to judge by the massive growth of the money supply in the United States, Europe and Asia, and the stubbornness of central […]
“The dance of the dollar counts — and it counts a lot. With few exceptions, when the dollar weakens against the euro, commodity prices soar, and when the dollar soars […]
“Of course, the inflation any individual faces almost surely differs from the government’s aggregate data. Outside of housing, middle-income consumers have experienced more inflation than other income groups over the […]
“The sudden increase in capital investments would create jobs and encourage economic growth, which would then make it possible to weather the interest rate hikes the Fed would inevitably adopt […]
“Last year the consensus opinion was that we are all Keynesians now. Virtually everyone in the commentariat believed that John Maynard Keynes’s solution for the Great Depression—heavy government spending to […]