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Imaginary Wage-Inflation Conundrum

March 10, 2018

Imaginary Wage-Inflation Conundrum Economists are puzzled over the wage growth conundrum. Wages were supposed to rise significantly. They didn’t. Why? Let’s start with a look at the conundrum expressed in a Tweet. Lisa Abramowicz ✔@lisaabramowicz1 This is a confusing jobs report. US employers added the most workers since mid-2016, but hourly wages didn’t increase as […]

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Laughable FOMC Statements on Phillips Curve, Inflation Expectations

February 22, 2018

Laughable FOMC Statements on Phillips Curve, Inflation Expectations The Jan 30-31 FOMC minutes were published today. In addition to the usual drivel came laughable Phillips Curve nonsense. The Fed released its January 30-31 FOMC Meeting Minutes today. The minutes were a combination of the usual drivel about the economy plus some downright laughable comments on […]

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An Inflation Indicator to Watch, Part 1

February 18, 2018

An Inflation Indicator to Watch, Part 1 “Inflation is always and everywhere a monetary phenomenon.” —Milton Friedman Have you ever questioned Milton Friedman’s famous claim about inflation? Ever heard anyone else question it? Unless you read obscure stuff written for the academic community, you’re probably not used to Friedman’s quote being challenged. And that’s despite […]

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Greenspan Warns: “We Have A Stock Market Bubble”

January 31, 2018

Greenspan Warns: “We Have A Stock Market Bubble” US equity markets stumbled notably as former Fed Chair Alan Greenspan told Bloomberg TV that “we have a stock market bubble.” Greenspan stuck to his usual discussion topics of low productivity and fiscal doomsday inevitability… “Productivity has been dead in the water for the past 10 years… […]

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Fed Study Shows Phillips Curve Is Useless: Admitting the Obvious

August 29, 2017

Fed Study Shows Phillips Curve Is Useless: Admitting the Obvious The Phillips Curve, an economic model developed by A. W. Phillips purports that inflation and unemployment have a stable and inverse relationship. This has been a fundamental guiding economic theory used by the Fed for decades to set interest rates. A new Fed Study shows the […]

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Why the Fed Will Fail Once Again

June 27, 2017

Why the Fed Will Fail Once Again [Ed. Note: Jim Rickards’ latest New York Times bestseller, The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis, is out now. Learn how to get your free copy – HERE. This vital book transcends rhetoric from the Federal Reserve to prepare you for what […]

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Lost in Extrapolation

October 29, 2015

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 […]

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