Financial Markets

Economists and their crystal balls.

The perils of Social Security reform.

The government controls the money it spends.

The public debate on Social Security is wildly off track. 

The most talked-about financial failure of the year is Long-Term Capital Management, an investment partnership (loosely termed a hedge fund) run by Wall Street darling John Meriwether.

A billionaire speculator turns against capitalism.

Austrians deal with a central but overlooked monetary conundrum.

Clinton and friends propose a global lending facility as a prelude to endless bailouts. 

Financial instability and anti-capitalist fallacies about booms and busts. 

 Half of U.S. currency is held overseas. What happens if (when?) it is repatriated?