A deficit might be the most decisive thing
The current word games and debates about whether the Government will have the courage to plunge into the red are rather misleading, writes Bernard Keane .
Evidence that the Fed Caused the Housing Boom
In this forum I have argued that Alan Greenspan's low-interest-rate policy after the dot-com bust and 9/11 attacks sowed the seeds for our current recession and the housing bubble . I have also criticized the alternate theory that a foreign "savings glut" was the true culprit, rather than the Fed. In the present article, I want to deal with a few empirical objections to the case against Greenspan.
Some weeks ago, in an editorial about the financial crisis in the main section of this paper, a writer commented
approvingly that: "Our currencies are no longer tied to gold, which means central banks can act to mitigate monetary deflation and interrupt the deadly feedback loop of mounting defaults, declining real wages and prices and increasingly onerous dollar-denominated debt. ...
The Force Is With Us
By: Llewellyn H. Rockwell, Jr. It is a marvelous thing to see the market work, in good times and bad. Just look at the way that marvelous, unplanned barometer of wise resource use the price system has reacted in response to the human reality of economic downturn.
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