The “closing of the gold window” in August 1971 may seem like small potatoes compared to larger events in history that continue to affect the world today. But just as decisions made during World War I continue to affect the…
Would increasing money supply be a political move?
Would it really be “treasonous” for the Federal Reserve to increase the money supply over the next 15 months? Rick Perry says it would be. Virtually all economists, liberal or conservative, Republican or Democrat, academic or Wall Street – even…
Treating all recessions alike is a dangerous business
Not all recessions are alike. Unfortunately, many economists, politicians and members of the general public continue to act as if they are. If the only result of this were disappointment, it would not be so bad. But when governments, businesses…
Fear and greed supplant rationality
To borrow a phrase from the Vietnam era, the financial markets are “in a dynamic state.” In other words, no one knows what the hell is going on. The whole world, but especially the United States and European Union, faces…