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Postscripts: National Debt, Libya, Inflation and the Fannie/Freddie Mess
Reactions to recent events by astronaut, former U.S. Senator from New Mexico and Heartland Institute board member Harrison Schmitt (cross-posted at Schmitt’s personal blog, America’s Uncommon Sense):...
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We Mocked Soviet Central Planning; Why Not Mock America’s Central Planning?
Some folks at The Heartland Institute’s home office thought my little email exchange about Keynesian vs. Austrian economics, the Federal Reserve, etc., with Dick Ewing of Winthrop, Wash., worth...
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Destroying the Dollar
Something I never thought I would ever see in my former hometown, a wealthy New Jersey suburb of New York City, was a Dollar Store, but one opened recently in a former supermarket. Dollar Stores are...
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Wednesday’s Editorial on The Fed: Stupid Even for The New York Times
In today’s New York Times there is an editorial that takes the supposed masters of money at the Federal Reserve to task for their timidity. It’s an almost boundlessly stupid editorial. The NYT editors...
View ArticleBernanke Doubles Down on Policy He Personally Said Had Failed
This is rich. Federal Reserve Chairman Ben Bernanke this week announced Operation Twist, a program to pour hundreds of billions of dollars of Fed money into long-term debt to drive[...](Read...
View ArticleIs Price Inflation Nearly 11 Percent? Economist John Williams Says: Yes
John Williams runs the Shadowstats.com Web site, which calculates inflation, gross domestic product, and other economic indicators by measuring them the way the government would have done decades ago....
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Rethinking Money: The Rise Of Hayek’s Private Competing Currencies
Auditing the Fed, replacing Fed monetary policy discretion with a mandatory price rule governing policy, even the gold standard, Nobel Laureate Friedreich Hayek pushed the envelope beyond all of these....
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President Obama’s War On Women And Minorities
The 2012 election featured the bottom feeding charge of a Republican War on Women. The grounds for such a charge were less than zero. But with the Democrat Party outright controlling so much of the...
View ArticleWhy I Hate Chained CPI, and You Should Too
[Editor's note: Listen to Steve talk The Take with Charles Butler about chained CPI and other aspects of President Obama's 2014 budget with the player above.] President Obama today unveiled his...
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Entitlement Reform, Obama-Style, Can’t Even be Called Bogus
The biggest fallacy regarding Social Security is that it would be easier politically to cut Social Security benefits rather than to fundamentally reform the way the program works, so as to empower...
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America’s Private Video Market Success
It’s hard to be a “public interest” group when private interests better serve the public. Free Press, which effectively defines the “public interest” as being against private interests in media,...
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“Supplemental” Poverty Measure Shows Uneven Redistribution of Poverty by...
The release of a supplemental poverty measure by the Census Bureau is being touted in the media as indicating the government is not doing enough to ameliorate poverty in the country. The number of poor...
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Lessons From the Great German Inflation
Inflation is a dangerous and devastating monetary policy to be followed by any government. Ninety years ago, on November 15, 1923, the Great German Inflation came to an end when the monetary printing...
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The Right Response To Obama’s Inequality Concern Trolling
Politically, the president’s inequality concern trolling push is just the latest MacGuffin: the distraction of an issue that does not poll as a high priority, but is designed as a sop to the media and...
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The World In Crisis
We close 2013 in a world that seems to be swiftly tilting toward ever-larger crises of government legitimacy, oncoming clashes of foreign powers, and an abiding sense of concern on the part of the...
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Don’t Fear ‘Deflation,’ Unless Caused by Government
Federal Reserve Chairman, Ben Bernanke, and his designated successor, Janet Yellen, have defended the central bank’s $4 trillion monetary expansion over the last five years as a necessity to fight...
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Lessons from the Great Austrian Inflation
This year marks one hundred years since the beginning of the First World War in the summer of 1914. The Great War, as it used to be called, brought great devastation in its wake. Millions of human...
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Lessons from the Great French Inflation
Governments have an insatiable appetite for the wealth of their subjects. When governments find it impossible to continue raising taxes or borrowing funds, they have invariably turned to printing paper...
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Gold, Government and Monetary Freedom
For more than two hundred years, practically all of the leading advocates of individual liberty and free markets have assumed that money and banking were different from other types of goods and...
View ArticleUnderstanding Bitcoin’s True Potential
Bitcoin has seen remarkable success over the past year. More and more people have been using it, and more and more businesses have become willing to accept it as a payment method. As the first...
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