Archive for Federal Reserve
It’s Tough to Impress a Nobel (Memorial) Laureate
Isn’t this a funny sentence? But how strong would this effect be? Even if the Fed bought a couple of trillion dollars’ worth, probably not all that large. I’m not saying don’t do it, but don’t expect miracles.
Read moreIs Bernanke Trapped By Monetary Models?
I was reading this John H. Makin piece warning of deflation (HT2 my favorite blogger) with rising skepticism. (Incidentally, I have been commissioned by a currency trader (who loves Austrian economics) to do a report on the Japanese Lost Decade. So I’m not going to shoot my mouth off about the US’s current situation until […]
Read moreAn Oldie But Scary: Zeitgeist Addendum
I am writing a Mises Daily on this “they need more inflation to pay the interest” claim, and I am linking to Zeitgeist Addendum so people know what the position is. Boy oh boy, this is really a great description from 3:00 to about 18:00. After that I stop endorsing their presentation, but in that […]
Read moreSomeone New on My Radar
I’m not sure if he wanted to remain anonymous, but someone emailed me this guy’s keynote address at a conference for bloggers. The only vetting I did was to check Wikipedia to make sure this guy is who the video says he is. Anyway, I watched the 11-minute collage below. The guy is a former […]
Read moreDean Baker Looks at the Fed, and He Likes What He Sees
It’s really funny how economists can look at the same basic facts and reach such different conclusions. For example, I only recently really understood what the deal was with the Fed remitting its excess earnings back to the Treasury. And when I had finally comprehended the scheme, I concluded: The Fed is a giant counterfeiter! […]
Read moreWhy Some of Us Are Really Suspicious of the Banks
No joke, the elusive von Pepe and I literally sent each other the same FRED chart in crossed emails, because we saw different bloggers mentioning it. The chart shows a huge spike in US government securities held by commercial banks. It looked familiar, so I decided to overlay the CPI: Now of course, correlation doesn’t […]
Read moreScott Sumner Says What We’ve Been Waiting For
He’s been tip-toeing around it for over a year, but this is the clearest expression I’ve yet seen: “Monetary policy is the Achilles Heel of free market economics.” Now you might be thinking, “Exactly! I can’t stand all these ‘free market’ economists who think the one good the market can’t produce is money. They’ll talk […]
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