Sound Money Project
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A Return to the Gold Standard? – Richard Ebeling
“Monetary central planning has worked no better than any other form of central planning over the last one hundred years. The world’s central bankers – just like the central planners in the old Soviet Union – just do not have the knowledge, wisdom and ability to successful manage the monetary system of a market economy.…
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Larry White on the Business Cycle
Peter Boettke over on Coordination Problem posted an excellent video of Larry White discussing the Austrian theory of the business cycle. Enjoy!
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“Ben Bernanke’s Impossible Dream” – WSJ
“At Jackson Hole, Mr. Bernanke explained that “if inflation expectations were too low . . . an increase in inflation expectations could become a benefit.” Well, he’s certainly succeeded in raising inflationary expectations. But rising commodity prices and a debased dollar have proved harmful to many businesses because inflated costs mean deflated profit margins. The…
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“Fed Counts on ‘Psychological Bump’ With Borrowing, but May Just Add to Debt, Inflation”
“Investors beware: The Federal Reserve may have just agreed to make $600 billion more available for borrowing, but don’t expect to see that money flooding the market any time soon. At least that’s the warning from some financial experts who say the Federal Reserve’s pledge to buy $600 billion in Treasury bonds is unlikely to…
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“Sovereign Debt Concerns Weigh on Euro”
“The euro came under pressure as worries over the finances of countries on the edges of the eurozone continued to undermine the single currency. While the cost of insuring against a default in Portuguese, Greek and Spanish government debt has risen sharply, Ireland has become the main focus of investors’ concerns. The cost of protecting…
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“The Federal Reserve’s latest quantitative easing may lead to disaster”
“The Fed could have sat tight to see whether the slowdown in growth in the second and third quarters of 2010 was temporary. Most of the economic news since the idea of more QE was first floated in August has been better than expected, if not exactly earth-shattering. Friday’s employment figures continued that trend. The…
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Democracy in Deficit
“Vol. 8 of The Collected Works. Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy. The book serves to bolster Buchanan’s central beliefs in the necessity of a balanced-budget amendment to the U.S. Constitution and in monetary rules rather than central…
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“Fed’s Hoenig: Fed Needs To Increase Key Rates, Normalize Policy”
“The Federal Reserve’s vocal dissenter stood his ground against ultraloose monetary policy Friday in a week that the Fed opened the floodgate to loose additional dollars into the system. Federal Reserve Bank of Kansas City President Thomas Hoenig on Friday said the Fed needs to move rates “off of zero” to ensure a more stable…
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“What the Fed Did and Why” – Bernanke
“The FOMC decided this week that, with unemployment high and inflation very low, further support to the economy is needed. With short-term interest rates already about as low as they can go, the FOMC agreed to deliver that support by purchasing additional longer-term securities, as it did in 2008 and 2009. The FOMC intends to…
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“Analysis: Fed’s QE2 Raises Alarm of Commodity Bubble”
“A commodities buying spree spurred by U.S. quantitative easing has raised alarm of an inflationary bubble reminiscent of 2008 when oil and other industrial raw materials struck all-time highs before the crash. But the Reuters-Jefferies CRB index .CRB, a global commodities benchmark, has since hit a two-year high as part of an 18 percent gain…
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A Return to the Gold Standard? – Richard Ebeling
“Monetary central planning has worked no better than any other form of central planning over the last one hundred years. The world’s central bankers – just like the central planners in the old Soviet Union – just do not have the knowledge, wisdom and ability to successful manage the monetary system of a market economy.…
-
Larry White on the Business Cycle
Peter Boettke over on Coordination Problem posted an excellent video of Larry White discussing the Austrian theory of the business cycle. Enjoy!
-
“Ben Bernanke’s Impossible Dream” – WSJ
“At Jackson Hole, Mr. Bernanke explained that “if inflation expectations were too low . . . an increase in inflation expectations could become a benefit.” Well, he’s certainly succeeded in raising inflationary expectations. But rising commodity prices and a debased dollar have proved harmful to many businesses because inflated costs mean deflated profit margins. The…
-
“Fed Counts on ‘Psychological Bump’ With Borrowing, but May Just Add to Debt, Inflation”
“Investors beware: The Federal Reserve may have just agreed to make $600 billion more available for borrowing, but don’t expect to see that money flooding the market any time soon. At least that’s the warning from some financial experts who say the Federal Reserve’s pledge to buy $600 billion in Treasury bonds is unlikely to…
-
“Sovereign Debt Concerns Weigh on Euro”
“The euro came under pressure as worries over the finances of countries on the edges of the eurozone continued to undermine the single currency. While the cost of insuring against a default in Portuguese, Greek and Spanish government debt has risen sharply, Ireland has become the main focus of investors’ concerns. The cost of protecting…
-
“The Federal Reserve’s latest quantitative easing may lead to disaster”
“The Fed could have sat tight to see whether the slowdown in growth in the second and third quarters of 2010 was temporary. Most of the economic news since the idea of more QE was first floated in August has been better than expected, if not exactly earth-shattering. Friday’s employment figures continued that trend. The…
-
Democracy in Deficit
“Vol. 8 of The Collected Works. Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy. The book serves to bolster Buchanan’s central beliefs in the necessity of a balanced-budget amendment to the U.S. Constitution and in monetary rules rather than central…
-
“Fed’s Hoenig: Fed Needs To Increase Key Rates, Normalize Policy”
“The Federal Reserve’s vocal dissenter stood his ground against ultraloose monetary policy Friday in a week that the Fed opened the floodgate to loose additional dollars into the system. Federal Reserve Bank of Kansas City President Thomas Hoenig on Friday said the Fed needs to move rates “off of zero” to ensure a more stable…
-
“What the Fed Did and Why” – Bernanke
“The FOMC decided this week that, with unemployment high and inflation very low, further support to the economy is needed. With short-term interest rates already about as low as they can go, the FOMC agreed to deliver that support by purchasing additional longer-term securities, as it did in 2008 and 2009. The FOMC intends to…
-
“Analysis: Fed’s QE2 Raises Alarm of Commodity Bubble”
“A commodities buying spree spurred by U.S. quantitative easing has raised alarm of an inflationary bubble reminiscent of 2008 when oil and other industrial raw materials struck all-time highs before the crash. But the Reuters-Jefferies CRB index .CRB, a global commodities benchmark, has since hit a two-year high as part of an 18 percent gain…
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