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…In the meantime, even Mexico may be trying to get a step or two ahead of the Federal Reserve and the U.S. Treasury Department. In the words of Mexican billionaire Hugo Salinas Price, “Well I think the central bank (of Mexico) is watching what the Federal Reserve has been doing with utter amazement because we have been down that path before and it led to our ruin. So maybe they are saying, ‘We better have a little bit of gold because what is going on with quantitative easing is really hair-raising.’”
READ MORE“Practically speaking,a ceiling that is raised automatically is no ceiling at all. Given that, why not dispense with the pretense? The reason is politics. No Congressman wants to be on the record voting for unlimited debt, yet most are willing to rail …
READ MORE“The US economy is headed for a period of higher inflation and lower growth that makes the nation’s debt unappealing when measured against its global competitors, Pimco’s Bill Gross told CNBC. The head of the world’s largest bond firm, with nearly $1.3 …
READ MORE“The second problem with QE2 is that the Fed is stuck in an inappropriate economic model, which embodies the adage that when all you have is a hammer, every problem looks like a nail. The Fed really only has one policy tool: raising and lowering intere …
READ MORE“Bernanke continues to dismiss inflation as a big U.S. economic concern, and the Fed decided last week to keep interest rates between 0.00% and 0.25% “for an extended period.” But U.S. consumers have complained that sky-high gasoline prices are eating …
READ MORE“Vincent Reinhart of the American Enterprise Institute talks with EconTalk host Russ Roberts about the government interventions and non-interventions into financial markets in 2008. Conventional wisdom holds that the failure to intervene in the collaps …
READ MORE“President Roosevelt’s second offensive against the depression has been launched in the form of an amendment to the farm bill. This amendment provides a manner in which the credit of the country will be expanded. Expansion of credit is expected to lead …
READ MORE“What is needed most is global financial stability. Many worry that the dollar-centred monetary system is sick, leaving some to present radical proposals. Judy Shelton from Atlas Economic Research Foundation, a US think tank is one of these people: “We …
READ MORE“J. Bradley Jansen spoke at the Mises Institute’s Austrian Scholar’s Conference in 2005 on bank secrecy and financial privacy.” See it here. Image by Michal Marcol / FreeDigitalPhotos.net.
READ MORE“Economists have long disagreed seriously about the costs and benefits of government budget deficits and debt. Following the Second World War, a clash between Keynesian and―orthodox fiscal policy views arose. The debate waned as fiscal Keynesianism won …
READ MORE“The side affect of all of the money supply and low interest rates is that commodity prices continue to rise, which is hitting the middle class rather hard. And with consumers making up 70% of the economy, this is a real drag on real economic growth. W …
READ MORE“It might help getting our minds around what is so wrong in America today by thinking about the local police force. It’s not hard to understand that the job of the police is to protect lives and property. Suppose we decided to broaden their mandate. Su …
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