Booms and Busts

It will come as yesterday's news that the speculator is perennially under attack by the social justice warriors. Yet speculators serve a crucial and valuable role in surviving economic disasters.

It will come as yesterday's news that the speculator is perennially under attack by the social justice warriors. Yet speculators serve a crucial and valuable role in surviving economic disasters. 

The Fed is dumping cash into Fannie and Freddie which is helping investors buy up more trailer parks. 

The Fed is dumping cash into Fannie and Freddie which is helping investors buy up more trailer parks. 

Paul Krugman recently used his column to attack Austrian economics—yet again—but his attacks rely mostly on myths, poor reasoning, and misinformation. 

While bankruptcy has a negative connotation in the business world, “Bankruptcy fulfills the crucially important social function of preserving the available stock of capital."

While bankruptcy has a negative connotation in the business world, “Bankruptcy fulfills the crucially important social function of preserving the available stock of capital."

The New Deal is a paradigmatic case of how to turn a downturn into a depression. That US leaders regard this as a model to follow does not speak very well of their economic literacy, and it doesn't bode well for our future.

The question that arises for the state ruler is: How can I free myself of two effective constraints on my power: tax-resistance in the form of falling tax revenue and the need to borrow from and pay interest to banks? 

With such a messed-up economy, why is it still hard to spot a bust on the horizon?