See no evil, speak no evil…
The Jackson Hole speeches of Janet Yellen and Mario Draghi last week were notable for the omission of any comment about the burning issues…
The fiscal benefits of free trade
Western governments have an overriding problem, and that is they have reached or exceeded the bounds of taxation, at a time when legally mandated…
Follow the money
Since 2009, equities and other financial assets have climbed a wall of worry. Initially, it was recovery from the threat of a complete financial…
Why economists cannot forecast recessions
The purpose of this article is to draw the widest attention to the chronic inability of the economic establishment to forecast recessions. Next time…
How can the Fed possibly unwind QE?
There are currently two important items on the Fed’s wish list. The first is to restore interest rates to more normal levels, and the…
Understanding money and prices
This article explains the money side of prices, and why government currencies, unbacked by gold, are doomed to collapse. And why gold, which is…
Debts, Bastiat and modern economics
There is a well-worn conundrum told about a stranger, who walks into the hotel in a remote, sleepy village in Mexico, and reserves a…
The importance of randomness
The greatest strength of a truly free market economy, where money is sound and does not corrupt prices, is the absence of cyclical action….
Business cycles are credit cycles
This article gets to the heart of why central banks’ monetary policy will never succeed. The fundamental error is to regard economic cycles as…
The mystery behind economic growth
With sound money and free markets, the evolving production of businesses increases the purchasing power of money over time. We learn, out of the…