“In order to avoid the global recession that took hold in 2008, China implemented an aggressive stimulus policy. Credit was made plentiful and the inflation machine kept on chugging. The […]
“In order to avoid the global recession that took hold in 2008, China implemented an aggressive stimulus policy. Credit was made plentiful and the inflation machine kept on chugging. The […]
“The dollar weakened against 15 of 16 major peers, losing at least 1.5 percent versus currencies including the Australian dollar and Swedish krona. The U.S. currency has depreciated more than […]
“Hypothetical monetary systems always look better than actual experience. Economists therefore view their responsibility as deciding what characteristics money ought to have, then imposing that money on the public. The […]
“For many, Fed Chairman Ben Bernanke’s speech at the Boston Federal Reserve Bank conference last Friday confirmed expectations that renewed quantitative easing will definitely be approved at the Nov. 2-3 […]
“The threat of politicization hangs over the Federal Reserve Board like the Sword of Damocles. It’s Capitol Hill’s response to the Fed’s proliferation of new programs to unglue credit markets. […]
“Politically oriented monetary policies and business cycles are the inevitable by-products of a central bank, the ultimate favored banking institution which is viewed as a savior by some politicians facing […]
“In a free market economy from which fiduciary media are excluded, economic progress will be limited, perhaps severely, by the high cost and correspondingly limited supply of small-denomination money—money that […]
“Whether in Republican or Democratic administrations, the Washington policy consensus for a decade has been “print and spend.” When that doesn’t work, the Washington prescription is to double the dose—more […]
“Money is non-neutral, and the capital structure in an economy consists of combination of heterogeneous capital goods that multiple-specific uses. Once these propositions are included in the analysis, along with […]
“The Confederacy then turned to debt issue as a means of war finance. The South successfully sold some long-term government securities during the early stages of the war. Bond issues […]