Becoming Poorer By Monty Pelerin , posted April 13th, 2010 http://www.economicnoise.com/2010/04/13/becoming-poorer-2/ Federal Reserve Monster For many years I have believed the US as a people are getting poorer. Two-income families did not arise as a result of the women’s liberation movement. They...
In my previous post I spoke about the role of interest rates in balancing the supply of real savings (from depositors) and demand for those savings on the part of borrowers (investors): What's difficult to grasp here is that savings are not just abstract dollar notes. When I save, I am implicitly...