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The Bubble Finance Cycle——What Our Keynesian School Marm Doesn’t Get
The Bubble Finance Cycle——What Our Keynesian School Marm Doesn’t Get The world of Bubble Finance economies created by the Fed and other central banks is fundamentally different than that prevailing under the “Lite Touch” monetary policies which preceded the Greenspan era. Those essentially reactive and minimally invasive central bank intrusions into the money and capital markets prevailed from the time of the Fed’s […]
Haruhiko Kuroda – The Pressure to “Do More” Rises
Haruhiko Kuroda – The Pressure to “Do More” Rises BoJ Leaves Policy Unchanged, but What Comes Next? The Bank of Japan has employed QE programs since March of 2001 (in February of 2001, it still claimed that “QE will be ineffective” – it was right then, for the last time). These have had no effect […]
The Krugman Con
The Krugman Con Gold’s biggest enemy is a brilliant Nobel Prize winning economist, university professor and columnist for the New York Times. Sadly, he is also a con man. Last week Paul Krugman wrote a column for the New York Times in which he called Republican Paul Ryan, a “con man.” The Republican chairman of […]
Lost in Extrapolation
Lost in Extrapolation Phillips Curve Fail In the late 1970s the impossible happened. Inflation and unemployment simultaneously went vertical. The leading economists of the day were flummoxed. Larry Summers favors us with his “eternal stagnation” shrug. The man is a sheer inexhaustible fount of truly atrocious ideas. As we have previously pointed out, when he’s […]
Why NIRP may trump QE4
Why NIRP may trump QE4 The Fed unsurprisingly chickened out from the much touted September hike. International conditions and a disapproval from Mr. Market was enough to unnerve an increasingly bewildered FOMC board. Less well known is the fact that the FOMC gave a strong, and unexpected, signal to the Pavlovian world of central bank […]
When The Advanced Keynesian Disease Afflicts A Nation—–Japan’s Abe Goes Full Fantasy-tard With 3 New ‘Arrows’
When The Advanced Keynesian Disease Afflicts A Nation—–Japan’s Abe Goes Full Fantasy-tard With 3 New ‘Arrows’ Having completed his militarist plans, Japanese Prime Minister Shinzo Abe appears to have gone full fantasy-tard with his latest “plans” for the demographically-dead and debt-destroyed nation. “Creating a strong economy will continue to be my top priority,” Abe said, a goal […]
Why The Keynesian Chorus Is Cackling Like Chicken Little
Why The Keynesian Chorus Is Cackling Like Chicken Little This is getting way too stupid. The Keynesian Chorus has launched a full blast trilling campaign, emitting a shrill cackle of warnings against a Fed rate hike. Yes, 80 months of pumping free money into the canyons of Wall Street is not enough. Why? Well, this is hard to type with a straight […]
The Central Bankers’ Malodorous War On Savers
The Central Bankers’ Malodorous War On Savers Well, that didn’t take long! After just three days of market turmoil the monetary politburo swung into action. This time they sent out B-Dud to promise still another monetary sweetener. Said the head of the New York Fed, “From my perspective, at this moment, the decision to begin the normalization process […]
The Wall Street Ponzi At Work——The Stock Pumping Swindle Behind Four Retail Zombies
The Wall Street Ponzi At Work——The Stock Pumping Swindle Behind Four Retail Zombies In the nearby column Jim Quinn debunks Wall Street’s latest claim that the American consumer is bounding back. He points out that on an inflation-adjusted basis retail sales are barely higher than they were a year ago, and, for that matter, are still only 4% greater in real terms […]
US Recession Imminent As Factory Orders Plunge For 8th Consecutive Month
US Recession Imminent As Factory Orders Plunge For 8th Consecutive Month For the 8th month in a row, US factory orders fell YoY. Down 6.2% in June, this is the longest streak of declining factory orders outside of a recession in history. MoM, factory orders rose 1.8% – as expected – the most since May 2014 […]
Don’t Call it a Recession!
Don’t Call it a Recession! “But pretty soon the word “recession” also became too harsh for the delicate sensibilities of the American public. It now seems that we had our last recession in 1957–58. For since then, we have only had “downturns,” or, even better, “slowdowns,” or “sidewise movements.” So be of good cheer; from […]
Keynesians Wrong About Stimulus, Coming AND Going
Keynesians Wrong About Stimulus, Coming AND Going In a previous post here at Mises CA I chronicled the hole Krugman keeps digging for himself regarding the botched warnings over the so-called “sequester” in 2013. Specifically, Krugman’s latest excuse is to say that when he argued back in 2013 that the sequester was a “fiscal doomsday machine” and […]
Central Banks Have Shot Their Wad——-Why The Casino Is In For A Rude Awakening, Part I
Central Banks Have Shot Their Wad——-Why The Casino Is In For A Rude Awakening, Part I There has been a lot of chatter in recent days about the plunge in commodity prices—–capped off by this week’s slide of the Bloomberg commodity index to levels not seen since 2002. That epochal development is captured in the chart below, but […]
The Greek People Should Vote No
The Greek People Should Vote No Greece has defaulted on its 1.3 billion euro payment to the International Monetary Fund and the euro zone is still intact, but nobody has any clear idea about what will happen after next Sunday’s referendum. Prime Minister Tsipras and Finance Minister Yanis Varoufakis, a game theory expert, have […]
Good On You, Alexis Tsipras (Part 1)
Good On You, Alexis Tsipras (Part 1) Late Friday night a solid blow was struck for sound money, free markets and limited government by a most unlikely force. Namely, the hard core statist and crypto-Marxist prime minister of Greece, Alexis Tsipras. He has now set in motion a cascade of disruption that will shake the corrupt status quo to […]
