Some Fed officials and various commentators, such as Professor Paul Krugman, are of the view that the US central bank should be ready to consider additional steps to boost the US economy in the wake of a visible softening in key economic data. For instance, the yearly rate of growth of retail sales, after climbing [...]
There are those who would argue that the financial crisis was caused by over-enthusiastic worship of the Almighty Dollar. Call it brutal financial karma, but that church is looking pretty empty these days.
A new report from Morgan Stanley analyst Emma Lawson confirms what many had suspected: the dollar is firmly on its way to losing [...]
Factory workers demanding better wages and working conditions are hastening the eventual end of an era of cheap costs that helped make southern coastal China the world’s factory floor.
A series of strikes over the past two months have been a rude wakeup call for the many foreign companies that depend on China’s low costs to [...]
Whenever the government causes a mess, chances are high that it will accuse speculators of being responsible. In the recent financial crisis, speculators and their financial instruments have been under attack again. Some famous investors have even supported governments’ attacks on speculators. Warren Buffet has called derivatives “financial weapons of mass destruction.”
In the current sovereign-debt [...]
Source: Most Americans know that the U.S. economy is in bad shape, but what most Americans don’t know is how truly desperate the financial situation of the United States really is. The truth is that what we are experiencing is not simply a “downturn” or a “recession”. What we are witnessing [...]
By Peter Schiff LewRockwell.com
In recent months, GDP numbers have rebounded – primarily as a result of record low interest rates reliquifying the credit market and government stimulus jolting consumer spending. Although the “positive growth” has delighted Obama’s economic brain trust, it has done little to boost the fortunes of Main Street. As I have said [...]
A couple of days ago in Japan, Ben Bernanke said that the benefits of low interest rate policies that politicians want “are not sustainable and will soon evaporate, leaving behind inflationary pressures that worsen the economy’s long-term prospects……thus political interference in monetary policy can generate undesirable boom-bust cycles that ultimately lead to both a less [...]
Since the rise of Hugo Chavez, Venezuela has become a superstar of sorts. It frequently makes headline news, whether due to some type of utility shortage, some political scandal, or a corruption case. The most common perception of Venezuela is one of economic peril. Indeed, analysts have been predicting the government’s collapse since at least [...]
On May 3, 2010, I gave a talk to a class of students studying public health policy at the University of Washington. I began the talk by asking the students how many of them believed that the current healthcare system in America was flawed; everyone in the class raised their hand. I then asked how [...]
Copyright law’s grip on film, music and software barely touches the fashion industry and fashion benefits in both innovation and sales, says Johanna Blakley. At TEDxUSC 2010, she talks about what all creative industries can learn from fashion’s free culture.
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The groundbreaking study showing how the City of Oakland could make $2 million per year licensing a medical cannabis growing warehouse caught many locals by surprise this week. Even though city officials and the cannabis industry are looking toward licensing large-scale grows allowed under state law SB 420, the hard numbers appear to be the [...]
I assume that you know how the banking system developed and how the banks could improve the services rendered by gold, by transferring assets from one individual to another individual in the books of the banks. When you study the development of the history of money you will discover that there were countries in which [...]
A specter is haunting the world, and especially Europe: the specter of a sovereign insolvency. The acute sovereign-debt crisis is largely the result of government interventions in response to the financial crisis.
As Austrian business-cycle theory explains, the credit expansion of the fractional-reserve-banking system had caused an unsustainable boom. At artificially low interest rates, additional investment [...]
Different Americans have different and often intense preferences for all kinds of goods and services. Some of us have strong preferences for beer and distaste for wine while others have the opposite preference — strong preferences for wine and distaste for beer. Some of us hate three-piece suits and love blue jeans while others love [...]
I’m sure that you have had this experience before, or something similar to it. You are sitting at lunch in a nice restaurant or perhaps a hotel. Waiters are coming and going. The food is fantastic. The conversation about all things is going well. You talk about the weather, music, movies, health, trivialities in the [...]