By flooding the market with cheap credit, Alan Greenspan pushed interest rates (including mortgage rates) down to artificially low levels. This caused the bubble in house prices and misallocated too many real resources to the housing sector.
Jimmy Carter doesn't get credit for his deregulation efforts, but his initiatives probably were as significant a boost to the economy as any president has accomplished since 1980.
The fact that Yalta can now clearly be seen to have been a betrayal is another reason to be wary when pundits and talk show hosts jump on the bandwagon for the next killing spree abroad.
Janet Yellen was concerned that low inflation could "paralyze the economy," especially during economic downturns.
If you like high taxes, crony capitalism, central banking, and a central authority that can regulate everything you do, thank Alexander Hamilton.
If you like high taxes, crony capitalism, central banking, and a central authority that can regulate everything you do, thank Alexander Hamilton.
The “forgotten depression” can still teach us important lessons: that the interventionist and spendthrift state is often more part of the problem than it is of the solution.
Whether we're commanded to trust the experts, abandon the rule of law, or venerate government for "keeping us safe," the 9/11 panic and our current crisis have many things in common.
