Japan Intervenes to Bail Out America.com

This week, after the Japanese yen had surged to a fifteen-year high against the US dollar, the Japanese government decided to intervene in the foreign exchange market. To great fanfare, the Bank of Japan initiated a vigorous campaign to buy US dollars, thereby...

Does the Fed Ultimately Control Interest Rates?

In forecasting the consequences of current economic policy, many pundits are downplaying the risks associated with the surging national debt and the rapid expansion of marketable Treasury securities. Their comfort stems from the belief that a staggering debt...

Don't Doubt the Double Dip

A few weeks ago Nouriel Roubini, widely regarded as one of the more pessimistic figures on Wall Street, made headlines by raising his forecasted likelihood of a “double dip recession” to a terrifying 40%. The vast majority of “mainstream”...

Censorship Strengthens Islamists

The prospect of another semi-free country falling to Islam is in danger of happening. In the Philippines a bill that would criminalize the use of words like “Muslim” and “Islamic” to describe criminals has been filed by Sen. Ramon...

Bernanke Out of Bullets, But Not Bombs

Word on the street is that the Fed is now “out of bullets.” Many economists fear that in its efforts to spur recovery, the Fed may have already exhausted its array of monetary ammunition and that it has nothing left of significance to fire at the steadily...

A Tale of Two Parties

Following is an Op-Ed I submitted to The Albuquerque Journal. It was rejected; so, I posted it to an on-line discussion group and to an activist group. I now post it here for the same reason that it was worth writing: it is a story that illustrates a particular...

Flying Blind

  Watching economists and media analysts react to breaking economic news is a bit like looking at a flock of pigeons flying over the New York skyline. A true wonder of the urban landscape, the flocks can include hundreds of individuals who show an uncanny ability...

The Fed’s Biggest Bubble

I’ve made a living out of exposing economic fallacies, but there’s one whale that I can’t seem to harpoon. Even top-flight Wall Street analysts seem to believe that the Fed’s doubling of the monetary base after the credit crunch has not had an...

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