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There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.
Ludwig von Mises
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- Kept in the dark wp.me/p1O9ar-c0 5 years ago
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Category Archives: Uncategorized
Kept in the dark
In my last post, I shared the news that the MPC keeps no minutes of its meetings. I had pondered whether there would be any gain in trying to use the Freedom of Information Act to force the Bank to … Continue reading
Posted in Uncategorized
Tagged Bank of England, central banks, economics, FOI, mpc, Secrecy
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What has the MPC got to hide?
News to light the fires of the paranoid and conspiracy theorists out there: The Bank of England’s Monetary Policy Committee (MPC), the group which decides on interest rates each month, keeps no minutes of their meetings. We’ve argued on this … Continue reading
Posted in Uncategorized
Tagged Austrian school, Bank of England, central bank, economics, Federal Reserve, keynesian, mpc
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The Bank of England must share the blame for the cost of living
Many central banks now have “inflation targets” that they are required to meet, and such targets are set by the government. For the Bank of England, this target is 2%, and is based on the Consumer Price Index (CPI). Some … Continue reading
Posted in Uncategorized
Tagged Austrian economics, Bank of England, central banks, economics, Federal Reserve, inflation, Keynesianism, monetarism
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Quote of the Day
Upon observing an airplane fly, one doesn’t assume that apparently the law of gravity doesn’t apply to metal plane-shaped things. Rather, you intelligently realize instead that other forces must be in operation on the plane. Similarly, we should not assume … Continue reading
Posted in Uncategorized
Tagged economics, Frédéric Bastiat, Henry Hazlitt, minimum wage
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The illusion of stock market prosperity
The ups and downs of the stock market is reported daily, hourly – continuously on some news channels. Stock markets are seen as indicators of the overall economy. A rising stock market means prosperity, and a falling stock market spells … Continue reading
Posted in Uncategorized
Tagged Austrian school, bubble, cpi, djia, economics, Federal Reserve System, ftse, stock market, venezuela
1 Comment
The debt limit explained
I’ve been too busy to post much recently, but this is a nice satirical look at the US debt limit: H/T Coyote Blog
Posted in Uncategorized
Tagged debt, debt limit, economics, sequestration, shutdown, USA
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Forward guidance
One of the notably sinister traits of a central bank is the act of collaboration (read, collusion) between countries: they can’t exist for long without it. It is therefore not surprising that when Ben Bernanke issued a statement linking future monetary policy … Continue reading
Posted in Uncategorized
Tagged Austrian school, Bank of England, central banks, economics, fed, inflation
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