One of the great myths of the 2008 Crash (which was created by the Federal Reserve holding interest rates down for too long, along with boneheaded social policy from Washington – the Community Reinvestment Act) is that banking was somehow...
End the Fed. We should not have an economic politburo in this country trying (and failing over and over) to plan the economy. This is what many people do not understand about American “capitalism.” With a central bank at the...
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Federal Reserve “independence” is a convenient untruth for the Fed and for many in the Washington political class. The Fed is absolutely influenced by politics. This is evident even to the fairly casual observer. (From The Dallas News) Carnegie Mellon...
We have said before that no Fed Chair was ever “free market.” This absolutely includes Mr. Greenspan. His legacy is one of a price fixer, an economic manipulator, a bubble blower, and ultimately one who in many ways ushered in...
One of the reasons I so enjoy Ron Paul (and there are many reasons) is because he raised the Federal Reserve as an issue in the eyes of the public. The Fed would have been very pleased to stay just...
The answer to the question is – no. However Japan is going to go the long route before it gets to this answer. Read more…
Americans are debt addicts. They love to spend. The politicians love to spend. Everyday Americans love to spend. Spend, spend, spend. And we wonder why many things, our society even, feels so cheap. People live on credit. They finance cars,...
This goes nicely with the previous post. People are waking up. They are using the information at their disposal. Do not take this information for granted. Read more…
(From David Stockman’s Contra Corner) If you don’t think the current central bank driven economic and financial bubble is going to end badly, recall a crucial historical fact. To wit, the worldwide race of central banks to the zero bound and NIRP and their $10...
Abolishing the Fed shouldn’t really be considered a radical idea. Increasingly it is not. More people understand the underpinnings of the Fed, why it exists (as a backstop for the banks) and are aware of its century of failures than...
So in other words 7% of the market’s upside since 2008 is real. (I’ll bet even that is generous.) This should concern anyone who thinks that economics is more than smoke, mirrors, and animal spirits. The economist who did this...
