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Potpourri

* Robert Wenzel tells us “the next big thing” in the financial world. (I think he means, the next big thing after Bernanke’s balance sheet.) * The principles of Walt Disney’s success [pdf]. * The 1870s depression wasn’t so bad after all (HT2 Tom Woods). * This guy says what everyone needs to be saying: […]

TARP, a Criminal Enterprise

So says Larry Kudlow (HT2EPJ). Some strong words indeed for a CNBC article: Is the whole TARP plan a criminal enterprise? Sounds farfetched, I suppose. But after reading about Special Inspector General Neil Barofsky’s report, it may well be that TARP is just one big criminal problem. I know, let’s play a game! I’m going […]

Local Communities Start Printing Own Currency

A few people have mentioned this to me; here’s a USA Today article (so it must be true): A small but growing number of cash-strapped communities are printing their own money. Borrowing from a Depression-era idea, they are aiming to help consumers make ends meet and support struggling local businesses. The systems generally work like […]

Barney Frank on Ron Paul (and not on Steady Cam)

I’m sorry folks, but ever since I testified before his committee (though he was never in the room when I was speaking!), I have liked Barney Frank. There’s all kinds of funny stuff in this clip (HT2LRC)–especially watch for him talking about the Democrats treating Ron Paul better than the Republicans did–but note that he […]

Does the 1937-38 "Depression Within the Depression" Vindicate the Keynesians?

In the thread of my infomercial for my new book, a reader asks an excellent question: Just yesterday I received your book and after skimming it, I must say that it looks like it is going to be excellent! Hopefully I can start reading it this weekend. One point though. In part of your first […]

Did Abandoning the Gold Standard Get Us Out of the Depression?

Greg Mankiw has come out of his shell lately on his blog. Whenever I visited in the past, I would quickly move on because he would offer links with at most a sentence of commentary. Unfortunately, now he is devoting his writing skills to pushing the benefits of massive inflation. Last week Mankiw wrote an […]

Scott Sumner Restores My Faith in Economists

Wow. I am totally blown away by Scott Sumner’s blog, The Money Illusion. He is a Chicago PhD who specializes in the gold standard and the Great Depression. I don’t even necessarily agree with his overall views, but WOW his posts are really really good. It’s what I would have expected from nerdy academic economists […]

Will New Fed "Tools" Avert Hyperinflation?

My sources say no. An excerpt: For a different idea, economists Woodward and Hall think the Fed just needs the ability to charge banks for holding reserves….How does this avert the threat of hyperinflation? Simple, according to Woodward and Hall. If banks ever start loaning out too much of their (now massive) excess reserves, and […]