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During the 1992 presidential campaign, former President Clinton’s rallying cry was “It’s the Economy, Stupid.” He sang it to perfection and won the election. Today, the smart politicians (and economists) should realize that “It’s the Money Supply, Stupid.”
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Wondering why inflation figures are so tame when real estate prices are soaring? There is a simple explanation: the Consumer Price Index factors in rising rents, not rising home prices.
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A rose by any other name would smell as sweet, but a steak tastes not as sweet – if it’s a cut of horse meat… The new CPI calculations are designed to […]
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By Devin Roundtree Due to May’s disappointing unemployment numbers, Wall Street investors are again debating if the Federal Reserve will provide another round of Quantitative Easing. Yet nobody is recognizing […]
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“…nor am I a doctor. But here is a critique of a school of economic thought, along with an appendectomy!” “Donny, you’re out of your element.” Fans of […]
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US and European regulators are essentially forcing banks to buy up their own government’s debt—a move that could end up making the debt crisis even worse, a Citigroup analysis says
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Earlier we posted a reply, by Dr. Bob Murphy, to an NYT blog post by Dr. Paul Krugman, wherein Murphy criticized Krugman’s interpretation of certain statistics and used work by Dr. Steven Horwitz to buttress his argument. Here Dr. Joseph Salerno takes issue with Dr. Horwitz’ conclusions, and adds his thoughts to the matter.
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“Collectively, the central bankers of the world might agree that they do not want gold to be remonetized. Individually, it is in their interest to defect from this consensus. As the American Century decays, individual motivations tend to become more prominent. You and I are not in a free market – but the central banks…
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The current financial crisis, may progress to a phase where people demand and hoard dollar bills but take electronic deposit credits only at a discount which increases until electronic deposit credits are repudiated entirely.
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The GFC is falsely named, since it is more accurately described as a global monetary war with the USGovt vigorously defending its franchise in the USDollar for crude oil and trade settlement, and for bank reserves management.