Ninety years ago, on November 15, 1923, the Great German Inflation came to an end when the monetary printing presses were finally shut down, and the economic havoc came to an end. Its lessons are worth remembering.
Tagged: Monetary Policy
Transparency, therefore, has little to do with being accountable to the political branches of government. It’s about allaying the concerns of the financial market in the face of accommodative monetary policy.
Did Janet Yellen,
(1) see any problem in the housing bubble,
(2) anticipate the bursting of the housing bubble; and,
(3) anticipate its implications for the U.S. economy?
The answers are (1) no, (2) no, and (3) no.
The other day I came across a good review of Edmund Contoski’s latest book, The Impending Monetary Revolution, The Dollar and Gold, at Feathered Quill Book Reviews. An excerpt from that[...]
Auditing the Fed, replacing Fed monetary policy discretion with a mandatory price rule governing policy, even the gold standard, Nobel Laureate Friedreich Hayek pushed the envelope beyond all of these.[...]
A great deal of attention is currently being paid to the fiscal cliff and a grand bargain. If the past is any indicator, under either event taxes will go up[...]
[First posted at The American Spectator.] President Obama told a sleepwalking America in his Democrat Convention Acceptance speech: I won’t pretend the path I’m offering is quick or easy. I[...]
In a recent editorial in The Wall Street Journal, a group of prominent economic experts took the government to task for many of its current poor fiscal and monetary decisions[...]