Why Is Gold at a New High?
The most recent quote reported in the Wall Street Journal (September 15, 2010) values gold at $1,268.50 per ounce, a historic high, albeit unadjusted for inflation. Will rosy expectations never fail to...
View ArticleNews Item: Nearly 100 Banks Benefiting from TARP Are on the Brink of Collapse
According to the Wall Street Journal’s Michael Rapoport (“Bailed-Out Banks Slip toward Failure”, 12/27/2010, p. C1), 98 U.S. financial institutions, which collectively were granted $4.2 billion in...
View ArticleInflation-Targeting versus Fiscal Stimulus
In the run-up to President Obama’s “State of the Union” address this evening, the nation’s monetary and fiscal policymakers seem, as often is true, to be working at cross-purposes. According to reports...
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The Independent Review—Spring 2011 Issue Now Available
[Cross-posted in the March 22 issue of The Lighthouse, the Independent Institute’s weekly email newsletter. Sign up for your free subscription here.] We are delighted to announce the publication of the...
View ArticleA (Brief) Critical Review of “This Time is Different”
Eastern bloc economists Carmen Reinhart, she of the University of Maryland, and Kenneth Rogoff, he of Harvard, have gotten rave reviews for This Time is Different: Eight Centuries of Financial Folly,...
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The Temptation of Bernanke: How Historical Memory Feeds Fed Power
[*UPDATE: Fed Joked About Housing Crash in 2006! Here is a good interview from PBS] “Tyranny is the exercise of power beyond right.” “Wherever law ends, tyranny begins.” —John Locke, Second Treatise of...
View ArticleFrance and Greece Move Left
Now that France’s incumbent President Sarkozy has been defeated at the polls by socialist candidate M. Hollande, Americans should have gotten a wake-up call. Angela Merkel now seems to be the only...
View ArticleLehman Brothers and the 2008 Financial Panic: Learning the Right Lessons
This week marks the 10th anniversary of the collapse of Lehman Brothers, the pivotal event that serves as the official starting point of the financial panic of 2008. Officials in both the George W....
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