Without pricing power or a large fiscal deficit and large foreign currency demands, talk of hyperinflation in the U.S. [and the U.K.] is misguided. It simply isn’t credible to claim that Hyperinflation in the U.S. or the U.K. is in the offing now or anytime in the immediate future. Words: 1370
June 20th, 2010 | Posted in Economy,Inflation/Deflation | Read More »
I would welcome a public debate of my thesis that risk-free bond speculation suppresses the rate of interest and destroys capital in the process. I have challenged neo-classical economists who still consider the open-market operations of the Fed as a ‘refined tool to manage the national economy’. I want them, instead, to see in open-market operations the cancer of the economy responsible for the withering of the world’s prosperity. So far my challenge has fallen upon deaf ears. Words: 2854
February 8th, 2010 | Posted in Economy | Read More »