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Monday, July 27, 2015

Whether It Works Or Not, The Government Will Make You Swallow It

Read Ira Stoll’s assessment, from The New York Sun webpage, of Hillary Clinton’s green energy policy proposal.

Central Planning Emerges As a Classic ErrorIn Clinton’s Strategy

Saturday, April 18, 2015

Ben Bernanke Defends The Indefensible

Keynesian economics has never, so far as I am able to discover, worked as predicted by theory.  It’s no more than an excuse for liberal-progressives who want an all-powerful government that will, in the name of security, override individuals’ rights to make their own decisions.

Ben Bernanke’s Latest Defense of the Fed’s Failures

Saturday, March 21, 2015

The Fed’s Latest Bubble Creation

The Wall Street Journal reports that the Fed’s continuing policy of artificially depressing interest rates is creating yet another asset bubble, this time in exploration and production (E&P) of petroleum and natural gas.

Sunday, January 25, 2015

What Hath The Fed Wrought?

City Journal columnist Nicole Gelinas gives us a brief overview of the Fed’s failure to deal with the economy’s real problem: too much debt, in 2008, and still today.  The implicit assumption underlying Obama administration policies and those of the Fed is that the way to deal with people who have more debt than they can repay is to encourage them to borrow still more money.

Of Interest at the Fed
No one knows what will happen if the central bank raises rates.

The “wealth effect” created by the Keynesian economic policies of former Fed chairman Ben Bernanke succeeded only in booming the stock market, enriching wealthy bankers, hedge fund operators, and speculators.  Retirees and lower-income ranks of workers have been trashed by near-zero interest rate returns on their savings.

The productive economy has labored for nearly eight years under increasing governmental regulatory strangulation and deficit spending financed largely by the Fed’s quantitative easement, government-bond-buying policy.  Recent slow gains in economic activity have been made, despite Obama’s administrative regulatory policies and constant threats of more regulation and higher taxes.  In fact, the biggest engine of economic recovery has been hydrofracking to produce more petroleum and natural gas, which the Obama administration has sought to kill off and replace with government-subsidized efforts to force use of “green” energy.

Friday, November 21, 2014

Traditional Virtues Perish Under Onslaught Of Deficit Spending And Federal Reserve Loose Money

The Cultural and Political Consequences of Fiat Money

Friday, November 14, 2014

Keynesian Statistics

From one aspect, Keynesian economics is about aggregating many very different kinds of economic data into single indexes.  It is this which animates the Federal Reserve’s monetary policies, Congress’s stimulus spending packages, and New York Times propagandist Paul Krugman’s never-ending calls for increasing governmental deficit spending.

Monday, November 03, 2014

Bank Of Japan Still On The Wrong Path

Monday’s stock markets around the world were given a probably temporary bump upwards by Japan’s central bank’s announcement that it was swallowing the Federal Reserve Bernanke pig whole. The Bank of Japan revised its QE3-style fiat money creation target sharply upward.

For an explanation read this article, published in 2002, but still on target.


After decades of “miracle” economic growth since World War II, Japan’s economy abruptly faltered in 1990 and has stagnated since. Why? Neither the Keynesian nor Monetarist explanations can provide an account. Only the Austrian theory of the business cycle provides the explanation.

Posted by Thomas E. Brewton on 11/03 at 02:48 PM
Economics • (9) Comments
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Sunday, October 12, 2014

Too Much Money, Too Little Growth

Steve Forbes provides a timely summation:

Money Is Not Wealth—But It Helps Create Wealth


“Money measures wealth; it is not wealth itself. It is a claim on products and services that people have created. That’s why counterfeiting is illegal; it’s thievery. But when government does this, it’s called quantitative easing, or stimulus.”

Saturday, August 16, 2014

A Critique Of The Fed’s Economic Theory

In two articles, economist Robert Higgs explains why macroeconomic, Keynesian theories, after more than four years, have failed to produced promised results.

Is Macroeconomics Really Economics?

Recession and Recovery
Six Fundamental Errors of the Current Orthodoxy

To read the article, scroll down below the introductory pitch for the Independent Review.

Sunday, August 10, 2014

Pernicious Nonsense

Another gnostic program for social perfection from French socialist academe, the folks who gave us the Reign of Terror, Lenin, Stalin, Mussolini, and Hitler.