Booms and Busts

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Dark Clouds over Auburn

Booms and BustsThe FedBusiness CyclesCapital and Interest TheoryMoney and Banking


I have lived in Auburn, Alabama, for more than three decades and have never seen a Super Sized Construction Crane. Last week, two were erected in the middle of town.

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Did the NY Fed Plagiarize Rothbard?

Booms and BustsBusiness Cycles


Rothbard's book is considered the standard on the subject of the 1819 crisis, yet the NY Fed authors seem reluctant to speak his name.

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Janet Yellen Strikes Downbeat Tone on Economy, Claims Fed Won't Go Negative

Booms and BustsThe FedBusiness Cycles


Even the Fed, which has for years been describing the economy as "expanding at a moderate pace," and which a few months back was saying it was "hawkish," has, through Janet Yellen's testimony today, been forced to admit that a rate cut may again be on the horizon.

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Hayek on CNBC

Booms and BustsThe FedFinancial MarketsMoney and Banking


Congressman Jeb Hensarling mentions Hayek's Fatal Conceit regarding the Fed bureaucracy's ability to manage money and interest rates. 

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What Was Quicken Loans Thinking?

Booms and BustsBusiness Cycles


Apparently Quicken Loans is thinking like John Maynard Keynes and Paul Krugman. They can create their own bubble and multiplier effect. It's magic!

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Barron's Is Talking Skyscraper Curse

Booms and BustsGlobal EconomyMoney and BanksU.S. EconomyBusiness CyclesMoney and Banking


Barron's is writing about skyscrapers and the Skyscraper Curse. They also quote me on the subject.

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The Big Short

Booms and BustsCorporate WelfareThe FedFinancial MarketsMedia and Culture


The Big Short is a pretty good movie, but there are a few things it leaves out.

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Switzerland to Vote on 100% Reserve Banking

Booms and BustsBusiness CyclesMoney and Banking


The signatures have been collected and submitted paving the way for a vote to establish 100% reserve banking in Switzerland.

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The Fed Can Do Real Damage Without Even Trying

Booms and BustsThe FedBusiness CyclesCalculation and Knowledge


Whatever the Fed imagines they can control and whatever their real intentions are, a central authority cannot optimally set prices that are in line with people’s preferences. This is especially important for interest rates, which have far-reaching influence...

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