Booms and Busts

While an increase in the supply of gold money would lead to higher consumer prices, such increases in the gold supply do not lead to boom-bust cycles.

The 2004 Nobel Prize in economics was awarded to two economists for their claim that "technology shocks" cause boom-bust cycles. They have it wrong.

Americans think hyperinflation can't happen here. Yet government spending and money creation are out of control, and it will not take much to trigger massive price hikes.

After following hyper-Keynesian policies for more than two decades, the Fed is about to create the conditions that Keynesians claimed were impossible: an inflationary recession.

This year's trio of Nobel winners in economics are short on actual economics and long on government intervention.

After following hyper-Keynesian policies for more than two decades, the Fed is about to create the conditions that Keynesians claimed were impossible: an inflationary recession.

This year's trio of Nobel winners in economics are short on actual economics and long on government intervention.

Former Fed chairman Ben Bernanke and two other economists have received the Nobel in economics this year. Their work on banking is weak on causality and fails to recognize the damage done by the central bank.

The Fed claims 2 percent inflation promotes "price stability." However, that policy also causes the boom-and-bust cycle, which is anything but stable.

Recovery is genuine only when it reaches the masses of individuals. And recovery comes only from the actions of individuals acting in a free market.