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Economics

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 Mises.org article, published in 2002, but still on target.

Quote:

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

Quote:

“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.

Wednesday, July 23, 2014

Obama Remains Bent On Economic Suicide

Obama Take Heed: Aussies Repeal ‘Economy Killer’ Carbon Tax

The best that can be said for Obama and his liberal-progressive supporters is that they are ignorant of economic reality.

The other explanation is that, as worshippers of the collectivized, socialistic political state, they are driven by faith that destroying economic prosperity for the present generation will produce a magically better human condition for future generations.  That’s, of course, the same rationale that led liberal-progressives in the 1920s and 1930s to support Lenin’s and Stalin’s liquidation of tens of millions of Russian citizens.

Sunday, July 20, 2014

Does The Fed Ever Get It Right?

Read these editorials from The New York Sun:

The Missing Data?

The Fed in danger

What if Janet Yellen is Wrong?

Posted by Thomas E. Brewton on 07/20 at 03:54 PM
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Saturday, July 19, 2014

No Justice For The Victims

A Modest Proposal for Eric Holder: Back Off the Banks

Posted by Thomas E. Brewton on 07/19 at 01:11 PM
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Wednesday, May 07, 2014

The Fed Aims To Continue Stealing Your Money

2% annual inflation, the Federal Reserve’s current policy target, will produce cumulative inflation of 144% over a normal 45-year working span.  At retirement almost $2.50 will be required to purchase what $1.00 buys today.