The Fed did not listen to me and leave rates unchanged. They hiked .25%, as was widely expected in more learned circle. I thought that Yellen and Company would fear being blamed for either a massive stock market sell-off or recession, both of which we may still see. The New York Times saw the Fed
Although many gold buyers readily accept that “gold is real money,” few can explain why gold is real money and why moving away from gold as money to fiat money distorts economic activity. The distortion being a boom followed by a bust, and the size of the distortion being determined by the amount of the
It has almost become a theme of this site that Keynesianism dominates economic thinking around the world. Now, comes “proof” that in order to stimulate economic activity all that is needed are huge quantities of freshly printed money pumped into the financial system. That “proof” comes from Japan where Abenomics has been in play since
Frank Holmes of U.S. Global Investors recently published an excellent brief history of the role that gold has played in the American economy since 1789. Although a few salient facts were left out, the essay is an excellent, informative and easy read.
. . . said Mario Draghi, ECB president, in a speech to Wall Street investors in New York Friday. Only the day before, the ECB had announced its QE plans for the Eurozone, which investors immediately deemed insufficient and stocks declined. Rushing to defend his plan for further money creation and asset buying, Draghi made
All year, members of the FOMC (Federal Open Market Committee) have made speeches and given interviews where they have hinted at raising rates at the next meeting, but the meetings came and went without rate hikes despite what some economists call improving economic indicators such as the lower unemployment rate. Now, they’re strongly suggesting a