Money and Banks

John Tamny is right that we don't need the Fed. Unfortunately, his new book on the Fed goes off course while explaining why.

The Bank of England has been less reckless than the ECB. But both the UK and the eurozone economies are fragile thanks to loose monetary policy.

If the Fed would quit meddling with interest rates, the natural interest rate would be revealed.

The Fed's terrible record of forecasting has destroyed its credibility to the point that its word no longer means anything.

Henry Hazlitt describes "the open conspiracy" among politicians to refuse to address the national debt.

The Bank of England warns of financial panic if Britain votes to leave EU.

Inflation isn't an increase in prices, and deflation isn't what causes economic depressions.

Many Americans now lack even small amounts of savings to deal with life emergencies. This is a triumph for Keynesian economics.

Central bankers think the official statistics are overcounting inflation and undercounting productivity.

We can apply economic analysis to explain cultural transformation, and a particularly important example is fiat money.