Why Chairman Bernanke Is Wrong [Part One]
There are many areas where my views differ from those of Ben Bernanke. Here is the first. Fed Chairman Bernanke believes in the Monetary Theory of the Great Depression, which
Economics In The Age Of Paper Money
“Irredeemable paper money has almost invariably proved a curse to the country employing it.” So wrote America’s greatest economist, Irving Fisher, in 1911. Sixty years later President Nixon severed the
THE FUTURE: AVERTING DISASTER
The future – the happiness and prosperity of mankind – will be determined by how global supply and global demand are brought back into balance. If the means are found
THE PRESENT: ON THE BRINK OF DISASTER
The global economy is in crisis. Government intervention on a multi-trillion dollar scale is the only thing preventing a worldwide collapse into a new great depression. This crisis is structural,
THE PAST: ABANDONED PRINCIPLES AND MISGUIDED …
When I was born in 1960, the political leaders of the United States believed very strongly that it was their duty to balance the government’s budget and to ensure that
How My Views Differ From:
Keynesians Bernanke and the Monetarists Free Traders The Libertarians The Tea Party The Democrats The Republicans The Bulls/the optimists The Bears/the pessimists China Bulls China’s policymakers
Economics In The Age Of Paper Money
The economic ecosystem, laissez-faire and exogenous shocks. Globalization and the collapse in the cost of labor Three kinds of Inflation Why Interest Rates are zero: What determines interest rates in
The Past: Abandoned principles and misguided…
Policy Mistakes Unbalanced Budgets The End of Sound Money Promoting Trade with no concern for the balance of trade Financial Sector Deregulation Economic Management through bubble creation. Trade The collapse
The Present: On the brink of disaster
The Condition and Outlook for the global economy How is the GDP calculated? The breakdown of global GDP by country The Outlook for the US private Sector Personal Consumption Business
The Future: What Must Be Done
Understanding our starting point: the brink of disaster. The life raft analogy. What caused the Great Depression? Policy Options Cut government spending now Maintain current levels of government spending Increase