Monday, December 17th, 2018 MST

Monthly Archives: June 2012

The Keynesian endgame

In 1971, the dollar was officially relieved of its false promise of gold convertibility by creditors to the United States. In an attempt to spare the world’s economies from the effects of creative destruction, free markets and the invisible hand were traded in for centrally planned economies. Instead of market participants determining who succeeded and failed, that task increasingly became the domain of academicians, central bankers and politicians.

QE3 is a given

Notable mainstream economists and influential policy makers are calling for more quantitative easing, so many that QE3 is a given.  Officially, it will be QE3, but in actuality it will be QE4 because “Operation Twist” is quantitative easing with another name.  One important voice now calling for another round of QE is no less than