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...

Carts and Horses

In a CNBC debate last week, former Labor Secretary Robert Reich presented a set of contradictory beliefs that unfortunately reflect the conventional wisdom of modern economists. In a discussion with Wall Street Journal columnist Stephen Moore, Reich correctly and...

Take Your Pick: Sinking US or Soaring BRIC

Since March 2009, the S&P 500 has surged by nearly 60% and US Treasuries have continued to surge, pushing yields close to all-time lows. This has elicited sighs of relief from professional investors, who see the strength as sure signs of recovery. Yet, these...

Happy Birthday Social Security?

In his weekly radio address this past Saturday, President Obama happily commemorated the 75th anniversary of Social Security. From my perspective, the milestone is nothing to celebrate. For although the president spoke earnestly about the “obligation to keep the...

Why Positive Rights Are Not Rights

Why Positive Rights Are Not Rights There presently exists a great delusion regarding the subject of rights. The great strides regarding natural rights that have been achieved by the likes of Locke have now been cast aside, in a modern era of entitlement; in an era,...

Don’t Lose Sleep over Deflation

After hearing the dire warnings of deflation that have become the standard talking points of most economists, American investors may be reaching for a bottle of Prozac. I believe that their anxiety is misplaced. Unfortunately, modern economists don’t understand...

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