The Left is making “income inequality” a cause célèbre , even trying to make it a campaign issue for this election cycle. Academicians and theorists present many reasons for why the “top one percent” earn so much more than the middle class, but lost in the discussions is why wealth is created by some people
European Central Bank president Mario Draghi recently suggested (again) that quantitative easing would revitalize the Eurozone’s economies. Robert Blumen, physicist and Austrian economics advocate, thinks that Europe’s’ problems are systemic and that the system is unsustainable.
Central planners and their minions rarely–if ever–admit the failures of their programs. In fact, they rationalize and even support their continuations when the schemes fail, laying blame on “the markets” or someone else’s inability to recognize the brilliance of their interventionist schemes. Martin Wolf, the Financial Times chief economics commentator, recently lamented the lack of
Europe’s economy remains in the doldrums, and central planners there are hinting at fundamental Keynesian moves to weaken the euro, which, in their thinking, would stimulate growth in the eurozone by making European goods cheaper on the world market and foreign goods more expensive for Europeans.
For years, reports that China’s banking system is at risk mostly have been ignored. Now, though, investors are listening as Chinese officials have admitted to problems in the Chinese banking system and its economy. From March 14’s Financial Times: China warning on defaults sparks fears over growth Bad debts on rise * ‘Lehman moment’ concerns
So wrote Gillian Tett in Friday’s Financial Times. Mr. Tett started his piece by noting that Nigeria’s central bank had announced that it would convert almost a 10th of Nigeria’s $43 billion reserves from dollars to renminbi. Tett went on to acknowledge that only 0.01 percent of the world’s central bank reserves are now held
In The Federal Reserve under attack like never before, I noted that when I started in the silver bullion business in 1973 few people knew what the Federal Reserve was and what it did. That was not always the case. Before the Fed was instituted in 1913, the United States had had two central banks,
The World Financial Crisis of 2008 now seems a long time ago and not worthy of discussion, except at the academic level where professors can point to the power of central banking. After all, didn’t the Fed solve the crisis by buying assets, many of which that were worthless on the free markets, with freshly
How is it that almost every mainstream economist is continually proved wrong in their predictions, that almost every prescribed course of action has led to a continual decline in the future economic prospects for the average American? The answer lies in the fact that economics has long since stopped being a field of scientific inquiry
Investors spend a lot of time trying to make the right investment moves; however, there are “mixed signals” that cause making the right decisions difficult if not impossible. Many of the mixed signals come from the Fed’s intervention in the financial markets, which are populated with malinvestments kept alive by the Fed’s manipulations of interest
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