The Fed

The Keynesians running our economic life may be reassured that the Fed cannot fail in a technical sense, but the public should be appalled.

"If recovery is to be maintained and future progress assured, there must be a more or less complete reversal of contemporary tendencies of governmental regulation of enterprise."

The great credit expansion Alan Greenspan began thirty years ago has finally run its course. The Fed no longer can expand credit to fight the oncoming recession.

Mortgage companies and realtors are today's canaries. They're in deep trouble, and so are the rest of us. 

Roosevelt needed the war and wanted the war, and the war came.

Most economists see GDP as a snapshot of the performance of the economy. However, it is better understood as a misleading statistic which fails to accurately describe what really is happening economically.

Paul Krugman denies that the Fed artificially suppressed interest rates. As usual, Krugman neither understands interest rates nor the effects of inflationary policies.

With his current timid, weak, and prevaricating position on price inflation, Powell is positioning himself as the new Arthur Burns, who did nothing to end 1970s inflation. 

The Keynesians running our economic life may be reassured that the Fed cannot fail in a technical sense, but the public should be appalled.

The relative lack of inflation in Japan doesn't mean real wages haven't fallen.