Booms and Busts

Many people are finally saying the R word: Recession. The fundamentals don’t look good.

What government cannot do without causing even more problems is take positive action against symptoms, such as falling stocks or housing prices, rising unemployment, business failures, and falling incomes. This is precisely what caused the Great Depression to get its name instead of being called what it might have been called: the recession of 1929–1931.

Chronic underconsumption is an idea most often associated with Keynes.

The coordinated and constant creation of liquidity by the world's central banks, especially since the Greenspan era, has led to not only more contenders for the tallest building title all over the world, but also frenzied high-rise construction everywhere.

In this blog post at Pacific Research Institute, I criticize former Treasury S

And here I thought recessions and the business cycle had something to do with state manipulation of the money supply.

Here's what I would like to see: the whole of Wall Street rising up against the Fed and demanding that it turn off the spigots and let the economy get back on an even keel. Let the correction happen and let profits and wages fall in the overblown sectors.

Contrary to Minsky, our analysis shows that it is the existence of the central bank that makes modern capitalism unstable.

As late as 1999, oil was trading at $10 per barrel and gold at $250 per ounce, down from their nominal peaks in 1980 of $39 and $850 respectively.

Pat Buchanan’s recent attempt to diagnose the sinking dollar demonstrates that ignorance of basic economics is not limited to the Left.