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Business CyclesInterventionismMonetary TheoryMoney and BankingMoney Supply
Inflationism terrorizes us.
Booms and BustsEconomic PolicyInflationBusiness Cycles
The "official" definition of a recession is a two-consecutive-quarter decline in GDP, but there are problems with GDP measurement in the first place.
Free MarketsRationalismBusiness Cycles
Much is made of surveys determining consumer confidence in the economy. Expectations, however, must line up both with proper economic theories and the information at hand.
Booms and BustsThe FedInflationBusiness Cycles
When Paul Volcker was Fed chairman forty years ago, he did what was necessary to bring down inflation. Unfortunately, the current Fed leadership at best is engaging in Volcker Lite.
Mortgage companies and realtors are today's canaries. They're in deep trouble, and so are the rest of us.
Booms and BustsThe FedBusiness Cycles
The great credit expansion Alan Greenspan began thirty years ago has finally run its course. The Fed no longer can expand credit to fight the oncoming recession.
Most economists see GDP as a snapshot of the performance of the economy. However, it is better understood as a misleading statistic which fails to accurately describe what really is happening economically.
The Federal Reserve was supposed to prevent recessions that people blamed on the lack of central banking. Not surprisingly, the post-Fed recessions have been worse.
The FedInflationU.S. EconomyBusiness Cycles
The Federal Reserve is raising interest rates and we know what follows, given there has been more than a decade of malinvestments building up: severe recession.
Anyone who doubts whether we are in a recession can stop doubting. The Fed's reverse repos show that we're headed for a crash.