Monetary Policy
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Nixon’s Gold Treachery Made Me a Cynic
“If the government continues on this path, it is only a question of time until fresh debacles result. But from the economic wreckage, a new generation of cynics may arise who do a far better job of putting politicians back on a leash.” ~ James Bovard
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Illusions of Central Bank Independence
“Blame for this grim outcome will likely fall at the feet of the usual suspects, ‘neo-liberal’ policies and unfettered markets. Meanwhile the true culprits, the global fiat currency regime and unrepentant central bankers, will be absolved of their sins.” ~ Christopher Lingle
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Long-Term Labor Force Trends & the COVID-19 Recession
“It remains to be seen if a further legacy of our several decades of accelerating fiscal profligacy and expansionary monetary policy will turn out to be a permanent reversal of our progress in labor participation and equality.” ~ Robert F. Mulligan
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The Fall of the Dominoes
“What we can do at this point is to look back at key points where we could have stopped them falling – like taking seriously the idea of a limited government and the principle of sound money – and ensure that, when the dust settles, we warn future generations not to repeat those errors.” ~…
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Bringing Money Under the Rule of Law
“The problem, of course, is that the Fed has always been under constant political pressure, but even when it is acting independently, its adventurism can and has ended poorly. To combat this, the authors argue that the Fed should be bound by explicit rules that constrain it from exercising broad discretion.” ~ Ethan Yang
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Is Our Current Inflation Temporary? Look at the Numbers
“John Williams, the New York Fed President, is expecting 3% inflation this year. I’m expecting inflation in 2021 to be above 5%. In six months, we’ll be able to look at the actual numbers and see whose estimate was closer.” ~ Randall G. Holcombe
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A Conversation On Wall Street and Dangerous Monetary Policy
“On this episode of the Authors Corner, Ethan Yang sits down with former hedge fund manager and founder of Signals Matter, Matt Piepenburg, to discuss his book Rigged to Fail. Matt brings his years of experience in the financial industry and his academic scholarship to offer a nuanced discussion on financial markets and the Federal…
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Unemployment Over the Business Cycle
“Without significant monetary and regulatory reform, our recovery from the Covid-19 recession will not only not fix these negative conditions, but will only set up the U.S. for our next recession, one that will almost certainly be even more severe.” ~ Robert F. Mulligan
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Monetary Policy Since the Great Recession
“The U.S. economy has now entered unexplored territory, though this territory has unhappy similarities with Revolutionary-era hyperinflation, Civil War inflation of the 1860s, and the stagflation of the 1970s. None of these historical experiences were something anybody would want to relive.” ~ Robert F. Mulligan
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Understanding the Covid-19 Recession
“National debt ballooned together with the Fed’s balance sheet even before the pandemic hit, and once it did we’ve been spending with unprecedented recklessness for relief, recovery, and even supposed infrastructure expansion. Spending this wealth that has yet to be created guarantees, not just future inflation, but a future recession.” ~ Robert F. Mulligan
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•
Nixon’s Gold Treachery Made Me a Cynic
“If the government continues on this path, it is only a question of time until fresh debacles result. But from the economic wreckage, a new generation of cynics may arise who do a far better job of putting politicians back on a leash.” ~ James Bovard
-
•
Illusions of Central Bank Independence
“Blame for this grim outcome will likely fall at the feet of the usual suspects, ‘neo-liberal’ policies and unfettered markets. Meanwhile the true culprits, the global fiat currency regime and unrepentant central bankers, will be absolved of their sins.” ~ Christopher Lingle
-
•
Long-Term Labor Force Trends & the COVID-19 Recession
“It remains to be seen if a further legacy of our several decades of accelerating fiscal profligacy and expansionary monetary policy will turn out to be a permanent reversal of our progress in labor participation and equality.” ~ Robert F. Mulligan
-
•
The Fall of the Dominoes
“What we can do at this point is to look back at key points where we could have stopped them falling – like taking seriously the idea of a limited government and the principle of sound money – and ensure that, when the dust settles, we warn future generations not to repeat those errors.” ~…
-
•
Bringing Money Under the Rule of Law
“The problem, of course, is that the Fed has always been under constant political pressure, but even when it is acting independently, its adventurism can and has ended poorly. To combat this, the authors argue that the Fed should be bound by explicit rules that constrain it from exercising broad discretion.” ~ Ethan Yang
-
•
Is Our Current Inflation Temporary? Look at the Numbers
“John Williams, the New York Fed President, is expecting 3% inflation this year. I’m expecting inflation in 2021 to be above 5%. In six months, we’ll be able to look at the actual numbers and see whose estimate was closer.” ~ Randall G. Holcombe
-
•
A Conversation On Wall Street and Dangerous Monetary Policy
“On this episode of the Authors Corner, Ethan Yang sits down with former hedge fund manager and founder of Signals Matter, Matt Piepenburg, to discuss his book Rigged to Fail. Matt brings his years of experience in the financial industry and his academic scholarship to offer a nuanced discussion on financial markets and the Federal…
-
•
Unemployment Over the Business Cycle
“Without significant monetary and regulatory reform, our recovery from the Covid-19 recession will not only not fix these negative conditions, but will only set up the U.S. for our next recession, one that will almost certainly be even more severe.” ~ Robert F. Mulligan
-
•
Monetary Policy Since the Great Recession
“The U.S. economy has now entered unexplored territory, though this territory has unhappy similarities with Revolutionary-era hyperinflation, Civil War inflation of the 1860s, and the stagflation of the 1970s. None of these historical experiences were something anybody would want to relive.” ~ Robert F. Mulligan
-
•
Understanding the Covid-19 Recession
“National debt ballooned together with the Fed’s balance sheet even before the pandemic hit, and once it did we’ve been spending with unprecedented recklessness for relief, recovery, and even supposed infrastructure expansion. Spending this wealth that has yet to be created guarantees, not just future inflation, but a future recession.” ~ Robert F. Mulligan