It is often discussed how central banks saved the world economy following the 2008 Global Financial Crisis. In reality, monetary policy has created an even larger bubble than that which burst in 2008. But the trend has now been going on for a generation – from the 1980s onwards, every […]
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Central banking and the economic consensus condemned
Via The Cobden Centre: The absurd tragedy of our situation, explained brilliantly here (albeit in a US context), is astonishing. For a more formal corrective, see this primer.
Read MoreBond bubble burst will gut gilt investors, warns Merrill Lynch – Telegraph Blogs
Compare and contrast: Via Bond bubble burst will gut gilt investors, warns Merrill Lynch – Telegraph Blogs: Never mind what the Bank of England monetary policy committee says about interest rates on Thursday. One of the biggest wealth managers in the world is discretely warning its income-seeking clients to beware […]
Read MoreMises on inflation and destructionism
In researching a piece on QE, I found this from Mises’ Socialism, which can stand alone for the moment. Here, by “inflation”, Mises means an increase in the money supply, which causes price rises. For Mises, “Destructionism” is the socialist strategy of tearing down the existing order in the hope […]
Read MoreOn printing money and hoping
Via The Cobden Centre, a good article by Liam Halligan, Policy makers must do more than print money and hope for the best: Quantitative easing might seem the easiest option but it is storing up major problems for the future. … Now, the Western world’s policy response amounts to printing […]
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