Financial Markets
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Inflation as the Enemy of Investing
"There is no such thing as a nonspeculative investment.… In a changing economy action always involves speculation. Investments may be good or bad, but they are always speculative."
Two Cheers for Credit Cards
Finally, the most interesting aspect of the giant credit-card industry is the simple fact that it works.
Secrets About Money That Put You at Risk
The Basic Things About Money and Wealth You Must Know And Probably Do Not Why is Money… (a) the thing that most of us worry about the most, and (b) the thing that you understand and were educated in school about the least? Why do otherwise...
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The Unforeseen Consequences of Credit Legislation
Therefore, whether it is disproportionally hurting African-American teen workers with minimum-wage laws or further endangering already-endangered species, the state is no match for market mechanisms. It remains a slave to unforeseen consequences.
Place Blame Where It Belongs
Victims of micro-level Ponzi schemes are only greedy; they don't infringe upon others' freedom. The same can't be said of those who demand that we all participate in these macro-level Ponzi schemes.
5. Pietism and the Power Brokers
When pietists shift to the Republican party, they form the progressive movement of 1900-1920. Rockefeller- McKinley forms alliances with power brokers like Kuhn, Loeb & Co., and Harriman (versus the Morgans).
Of Time and Marshmallows
When interest rates drop, entrepreneurs have no reliable way to tell whether, and to what extent, the drop is caused by (A) true increases in the ongoing flow of investable resources or by (B) what amounts to a temporary series of one-time transfers of wealth into the loan market. With such Fed-imposed blindness to the true data of the market, businesses across the whole economy are bound to make malinvestments.
Mankiw’s Baseless Arguments
Thus, Mankiw's solution for dealing with unprecedented excess reserves is for the Fed to create even more reserves in order to pay bankers not to make new loans. Does that sound like a good long-term plan for the economy?
Correction, Mr. Bernanke
We suggest that the threat of future crises will disappear once the Fed stops tampering with interest rates and the money supply. Furthermore we suggest that the act of money creation out of thin air is going to disappear once the present paper standard is replaced with a gold standard. If we allow a market-chosen money to fulfill the role of the medium of exchange, the issue of inflation will also disappear.
