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The Difficulties of Price Fixing

I am getting really sick of hearing all these bank experts explain the difficulties in government “bad bank” programs to buy “toxic” assets from the frozen lending institutions. They sound so serious and aware of the problems when they explain, “If the government pays too little for these troubled assets, then the banks will still […]

Another Strike Against Friedman’s Theory of the Depression

This is too technical for the book, but check out the difference in monetary base growth rates during the 1920-1921 depression versus The Great One. If Friedman is right, then it’s odd that the 1920s weren’t awful. (Incidentally, the Fed hiked rates way up in the beginning of 1920, and kept them there for almost […]

Another Austrian Website

Established as a reaction against those of you drawing bushy mustaches on poor Friedrich, or pitting him against Salma.

The Mish-Schiff Tiff

I haven’t had time to read any of this, but I bring to your attention Mike “Mish” Shedlock’s criticism of Peter Schiff. Both EPJ and Tim Swanson rush to Schiff’s defense. But more important than the financial issues is this: Is that Tim Swanson in the last photo of his article?! And did he lose […]

Robert Lucas’ Strange Faith in Bernanke

Details here. The intro: Lately the Mises Daily may have given the impression that we just bash Paul Krugman. In the interest of balance, today I will cast aspersions on another Nobel laureate, the Chicago School economist Robert Lucas. As is typical among many “promarket” economists, the undeniably sharp Lucas inexplicably sees no problem with […]

Quick Thoughts on Luke

During my (attempted) daily Bible chapter reading, I finished Exodus the other day and just couldn’t bear to jump right into Leviticus. So, I decided to take a break by reading random chapters from the Gospels for a few days. I happened upon Luke 12 one night, and wow it is really just chock full […]

Barro vs. Krugman on World War II

UPDATE below All right, I’ve been letting the tabs accumulate on my browser, so I’d better blog this and knock them down to a reasonable number. As many of you probably know, Robert Barro published an article in the WSJ saying that back-of-the-envelope calculations show that the multiplier on World War II military spending is […]

"Would You Chinamen Stop Saving So Much?!?!"

You might expect such analysis from The Dishwasher or The Water Boy, but no, it’s from The Economist (HT2 Tim Swanson). I don’t even need to read this article. Even if it were somehow true that Chinese savings are causing “global imbalances” and hence our financial crisis, that would just prove to me our current […]