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My article The 19th-Century Bernanke (originally posted here ) is featured today on the Ludwig von Mises Institute web site. Here are the links for... the article comments MP3 audio file (read by Floy Lilley) I hope you will enjoy reading or listening to it. Here's an excerpt Like Ben Bernanke today...
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Somebody did a cool "mashup" ( defined in Wikipedia as "a digital media file containing any or all of text, graphics, audio, video and animation drawn from pre-existing sources, to create a new derivative work") of my Mises.org article on Ben Bernanke's embarrassing prognostications...
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There is something disarming about a technocrat. While it is easy to dismiss elected officials as blustering panderers, there is something comforting in the image of the specialist civil servant toiling away with industry and equanimity. Poring over statistics like a Hellenic priest scientifically examining...
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My piece Ben Bernanke Was Wrong is a Daily Article today on the Mises Institute web site. Here is the article and the comments page. I've fleshed out my commentary on the transcription to make it more of an actual article. I've also updated the article here on Summa Anthropica. One of the things...
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We now have the diametrical opposite of the famous " Peter Schiff Was Right " video (a compilation of 2006 and 2007 clips in which Schiff, a financial expert who subscribes to Austrian economics, predicted the deep recession that would follow the bursting of the housing bubble). The new, opposite...
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My article Krugman's Rearguard Apologists (originally posted here ), which follows up my Krugman's Intellectual Waterloo Mises Daily (also orginally posted here ) has been published today as a front-page Mises Daily. Please check it out and contribute to the comments . My sincere thanks again...
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As most readers will know, a collection of damning quotes has surfaced recently, exposing Paul Krugman, the doyen of the economic left, as having been completely backward on the most material economic event in our generation: the housing bubble. My recent article on the subject, Krugman's Intellectual...
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Below is my take on the Austrian Business Cycle Theory. Stages 1. Money Supply Increase causes a general 2. Credit Supply Increase , which causes a general 3. Interest Rate Decrease , which causes a general 4. Longer Term Investment Increase , which causes a general 5. (a) Demand for Labor Increase and...
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Economics is seen by most as a something best left to the experts. But have so much trust when it becomes obvious that "the experts" are completely clueless? Almost every economist was completely by surprise by the development of the economic crisis. And the solutions they are offering don't...
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In the January 24 New York Times , Alan S. Blinder , professor of economics and public affairs at Princeton and former vice chairman of the Federal Reserve , argues that our worst postwar recession does not represent a fundamental failure of the American capitalist system, but is a result of a series...
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There's much to be said about the current financial crisis. At the heart of this, as every Austrian knows, is the fault the US government holds for creating the current situation through its central bank and its inflationary policy. This fundamental economic truth cannot be stated enough. Ignorance...
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What if the Fed set a goal for themselves to contain inflation at 3%? Let's assume (and this is a huge assumption) that government can control its spending to the point where 3% inflation is maintained. Is this the ticket to success? Well let's see: Artificial booms would still exist. Businessmen...
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Greenspan's book has been released, and it just so happens the recession that he helped create is occuring at the same time. I've been reading a lot of complaints about the many mistakes that Greenspan made as Fed Chairman. But how much blame does he really deserve? Is it all Greenspan's...
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It was Albert Einstein who stated that the definition of insanity is "doing the same thing over and over again and expecting different results." After the FED's cutting of interest rates by three-quarters of a point today , those of us wary toward centralized banking and the socialization...
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Murray Sabrin is a very eloquent "Ron Paul Republican" who is running for the U.S. Senate in NJ. Here is a YouTube of Mr. Sabrin on Ron Paul & The Fed.