Macro Economics
There is a scene in the Parable of the Talents in which the returned master berates the shabbiest of his three servants. Discovering that he had buried his seed capital in the ground, the master says: "You should have put my money on deposit with the bankers, so that when ...read more
Zero Percent Uber Alles
Jan 26th, 2012 | By Jeffrey Tucker | Category: Economics, Featured, Macro Economics
We are getting a sense of what life is like with the new Fed policy of openness. It means that the chairman tries to beat the world record for the longest, most-boring press conference in modern history. Ben Bernanke is getting even better at that crucial skill of repeatedly saying ...read more
The Fed’s Men Behind the Curtain
Jan 25th, 2012 | By Jeffrey Tucker | Category: Economics, Featured, Macro Economics
The debate about the Fed is under way, and thank goodness. But as with many policy debates, there really shouldn't be a debate at all. That's because, if you think about it, the idea of central banking makes no sense.
We don't have a government-created central repository that plans and manages ...read more
There’s No Such Thing as a Stable State
Jan 2nd, 2012 | By Jeffrey Tucker | Category: Emerging Markets, Featured, Macro Economics, Politics
Twenty years ago, and much to the shock of just about everyone, the mighty Soviet Union, the very embodiment of Hegel’s view of the state as the divine on Earth, dissolved and disappeared. The malicious foe of the U.S., the deadly grizzly that was said to wander the world seeking ...read more
The Blessing of Falling Prices
Dec 6th, 2011 | By Jeffrey Tucker | Category: Featured, Macro Economics
The DVD player crashed last night. The disc wouldn't load. Clearly, the player had gone the way of all flesh. With great reluctance, it was off to Wal-Mart to replace this appliance for the first time in perhaps 10 years. While I was there, I figured I would get a ...read more
Unemployment Solutions: Both Weird and Scary
Dec 1st, 2011 | By Jeffrey Tucker | Category: Featured, Macro Economics
There was a brief moment of joy at the news that retailers hired 206,000 new people in November. But only one day later, the other shoe dropped: Jobless claims are, again, past the 400,000 mark -- meaning that the unemployment problem is, overall, getting worse, not better. The broadest measure ...read more
Leaping Toward the Keynesian Dream
Nov 30th, 2011 | By Jeffrey Tucker | Category: Featured, Macro Economics
The Fed's latest inflationary scheme sounds like a technocratic innovation. It lowered the costs of currency swaps between central banks of the world, with the idea that the Fed would do for the globe what Europe, England and China are too shy to do, which is run the printing presses ...read more
Bank of England Announces More Currency Destruction
Nov 16th, 2011 | By Gary Gibson | Category: Economics, Featured, Macro Economics
"The debasement of paper money continues..."
That's how our friend Detlev Schlichter signs off his weekly reports on his website, papermoneycollapse.com. It's appropriate. Now more than ever.
On Monday, we sent you Detlev's latest on the continued debasement of the euro. We also reported on Bundesbank president Jens Weidmann's opposition to further ...read more
Christina Romer’s Toxic Cookbook
Nov 9th, 2011 | By Detlev Schlichter | Category: Featured, Macro Economics
Keynesian and other mainstream economists cannot explain the present crisis. That doesn't seem to bother them.
All they can offer is a description of symptoms, such as with their favorite phrase: lack of "aggregate demand." Which, if you think about it, doesn't really explain anything. How come demand dropped? Why did ...read more
Begging, Pleading for the Abolishment of Gross Domestic Product
Oct 27th, 2011 | By John Tammy | Category: Featured, Macro Economics
Nobel Laureate Robert Mundell long ago observed that the only closed economy is the world economy. As such, U.S. production (think the globalized manufacture of Apple's iPad, or Boeing's 787 Dreamliner) is a function of it ties to economic activity occurring around the world. GDP presumes a countries economy in ...read more

