Booms and Busts

The Prime Minister's statist, inflationist program isn't saving the country; it is preparing the way for yet another crash. 

At some point, and nobody knows when, the stock market is going to reverse its climb. It may even collapse. It is interesting to speculate on what kind of political response that would generate. Given the politics of entitlement and the propensity of the Fed to intervene, the picture looks pretty grim.

Central bankers mistake the cause for the cure. (Essay by Jeffrey Herbener)

How a credit-driven expansion has fed the stock-market boom. (Analysis by Sean Corrigan)

The Fed has pumped up the stock market, setting in motion certain inevitable consequences. (George Reisman provides an Austrian perspective)
 

The sordid history of failed economic predictions in our time. (Analysis by Clifford F. Thies.) 

 Is Greenspan issuing a warning? According to Austrian financial analyst Albert Friedberg, that is precisely what the Fed chairman is up to. 

Central banks are papering over problems, says Austrian School financial analyst Frank Shostak.

How much did money grow in the 1920s?

Paul Krugman is an eminent economist, but he here reveals a woefully inadequate understanding of Austrian business cycle theory. The rudiments of the theory are easy one might have thought that even a Keynesian could grasp them.