The Fed
The Fed’s Portfolio Is Nonexistent: The Fed Does Not Invest. It Destroys Investments
Economists and pundits mistakenly call the Federal Reserve System's security holdings a portfolio. It is anything but.
Fighting Inflation Really Means Fighting the Federal Reserve
These days, the Fed and Chairman Jerome Powell are claiming the title of "inflation fighters." The more appropriate moniker should be "inflationists."
The Paper Numbers Since The Great Recession
Mark Thornton takes a look back at US stock markets, the national debt, and Fed policy.
More Recession Signs: Money Supply Growth Went Negative Again in December
The fact the money supply is actually shrinking serves as just one more indicator that the so-called soft landing promised by the Federal Reserve is unlikely to be a reality.
You Think the Global Economy Is Brightening? Beware: The Big Hit Is Yet to Come
While President Joe Biden's White House continues to give happy talk about the economy, some major economic storm clouds are brewing. The future does not look good.
Do Correlations Help Define Money?
Monetary authorities have come up with numerous clever ways of measuring money. However, they are unable even to define money, much less measure it.
Biden Survives the State of the Union
Ryan and Tho feel obligated to discuss the State of the Union address.
Record Low Unemployment Indicates Trouble Ahead
Mark Thornton discusses the history of record low unemployment rates and the business cycle.