The Phillips curve, which charts an inverse relationship between unemployment and inflation, was proven unreliable during the 1973-1975 recession, when we had stagflation — the combination of high unemployment and…
Central Planners Wrong Again
Based on action by central bankers, the euro should be weakening relative to the dollar, yet just the opposite is happening. The Federal Reserve Board has been raising interest rates…
China’s Fix Could Break Things
Imagine if free markets were allowed to be free. Of course, in today’s world, they’re not. Central bankers and government agencies have taken control. Not knowing what to do with…
Bet You Can’t Count to a Quadrillion
When someone uses “quadrillion” in a headline, you know you’re in for a bit of an alarmist rant. We’re talking 1,000,000,000,000,000, which, stated another way, is a thousand million million. …
It’s Only Money
“Money often costs too much.” …
Sprinkling the Fairy Dust of Illusory Riches
When the Bank for International Settlements (BIS) calls central bank market rigging “the fairy dust of illusory riches,” it’s time to pay attention. The BIS is the central banks’ central…