Booms and Busts

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A Boom Town Recession That Could Save Us All

Big GovernmentBooms and BustsThe FedGlobal EconomyU.S. HistoryWar and Foreign PolicyBusiness CyclesGold Standard


Recessions are good for an economy because they involve a resolution process, but a big recession for this boom town could be great for the world economy.

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Salerno Reviews Grant's The Forgotten Depression

Booms and BustsU.S. History


Joseph Salerno reviews James Grant's new book The Forgotten Depression — 1921: The Crash That Cured Itself in the spring 2016 issue of The Independent Review.

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Downtrend in Money-Supply Growth Poses a Threat to Bubble Activities

Booms and BustsThe FedMoney and Banks


While the declining trend growth in money supply is bad news for bubbles, it is actually great news for wealth generators.

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The Container Ship Curse?

Booms and BustsGlobal EconomyBusiness Cycles


The world's largest container ship just entered a US port. Just in time for record low levels in the Baltic Dry Shipping Index, which is a measure of how much ships can charge.

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Rothbard’s Depression Analysis Is Now More Relevant than Ever

Booms and BustsMoney and BanksMoney and Banking


It is high time to turn to Rothbard in the search for advice. His recipe for dealing with depressions and how to avoid turning a recession into a depression is of timeless relevance.

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Is the Fed Flashing A Recession Sign?

Booms and BustsThe FedBusiness Cycles


This little known chart is the Fed's attempt to anticipate a recession in the US economy. The reading from last November is only 3.84%, but that is higher than all but 3 months when a recession did not immediately proceed.

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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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