By Russell Lamberti Robert Blumen has an excellent post at Mises.org titled “Say’s Law and the Permanent Recession” which we linked to last week. Blumen’s basic case is that the US economy has effectively been in a prolonged recession since around the turn of the century. This article is not about Blumen’s “permanent recession” thesis per [...]
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Don’t Stop Til You Get Enough
By Russell Lamberti This week, The Week ran an opinion piece by John Aziz which argues that America (and all other nations for that matter) should keep borrowing until investors no longer want to lend to them. To this end, it is argued, the US should scrap its debt ceiling because the only debt ceiling it needs [...]
The problem when fractional banks still work
Since the financial crisis in 2008/09 the Federal Reserve has printed trillions of dollars and purchased assets with them, mostly US government bonds and mortgage-backed securities. This has caused the assets on the Fed’s balance sheet to swell by around $2.5 trillion since the collapse of Lehman Brothers. Operations of this magnitude have caused the [...]
How to Fix Greece in 7 steps
By Russell Lamberti
The Greek economy is in a fatal debt trap and crashing. It doesn’t have to be this way for much longer. There are a set of bold steps that Greece could take that would not only set it on the path to stability, but outright prosperity and a genuine and sustained economic boom.
The Economics of Horsemeat (Inflation is Contagious)
By Russell Lamberti On January 15 2013 it came to light that beef being sold in some major British supermarkets contained horse DNA. What has followed has been one of the great food scandals of our time, as major name brands across Europe were discovered to have been selling beef diluted with cheap horse and [...]