Keynes and the Euthanasia of the Rentier
Over eighty years ago, Keynes condemned the rentier and welcomed his future disappearance. Following in his footsteps, politicians and central bankers today are ever closer to effectively bringing this about.
Financial Markets
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The Pandemic Exposed the Frailty of the Financial System
Contrary to Fed assumptions, we are not presently facing a problem of liquidity vis-à-vis Great Recession; we are confronted, instead, with a serious shortage of quality collateral.
The Last Thing We Need Right Now Is Bernie’s Proposed Tax on Financial Transactions
Bernie Sanders wants a tax on financial transactions so that every trade brings a penalty. While this most directly affects big traders, regular people will not be immune to the effects.
The Fed Is a One-Trick Pony
Printing up paper money—which is the Fed's solution to nearly everything—will not bring about a miraculous replacement of the lost goods and services or repair broken supply chains.
Jeff Deist Discusses Trump’s Stimulus Package
Jeff Deist joins Rick Sanchez to discuss the immense stimulus package proposed by the Trump administration to help the failing US economy.
The Fed’s Massive Injection of “Liquidity” Also Benefits Uncle Sam
By announcing that it is willing to throw up to $1.5 trillion in electronically created money in order to give three-month loans to those institutions that bought Treasury debt earlier, the Fed is bailing out not only the holders of Treasury debt, but also the Treasury itself.
Brian Williams’ Billionaire Bloomberg Blunder
Bob Murphy gives some thoughts on the stock market crash and coronavirus, then discusses the jaw-dropping discussion between Brian Williams and a member of the New York Times editorial board.
The “Market Monetarists” and NGDP Targeting
A relatively new challenge to the Austrian framework comes from the “market monetarists” and their endorsement of a central bank policy of “level targeting” of nominal gross domestic product.
Christine Lagarde’s New Vision for the ECB
Although consensus building surely is an important and noble pursuit, one would think that it wouldn't really fall within the purview of a central bank president. It’s been clear for a long time that allowing politics to influence monetary policy carries significant and numerous risks.
The Fed Slashes Rates as Powell Declares Economy “Strong”
Today's rate cut of 50 basis points is the largest rate cut since December 2008, in the midst of the aftermath of the financial crisis. But Chairman Powell insists the US economy is "strong."
