The “Keynesian revolution” took place long before Keynes approved of it and fabricated a pseudo-scientific justification for it. What he really did was to write an apology for the prevailing policies of governments.
Fed’s Policy: Asset price inflation for the rich. Consumer price inflation for the poor.
Authored by Daniel Lacalle via The Mises Institute, Negative rates are the destruction of money, an economic aberration based on the mistakes of many central banks and some of their economists, who start with a wrong diagnosis: the idea that economic agents do not take more credit or invest more because they choose to save […]
Don’t Put Your Trust in Today’s (Fiat) Money
The positive statistical association between economic growth and price inflation is not because of an expansion in real wealth but comes in response to the expansion in money supply.
The long-term trend in inflation is toward less work and production, and more speculation and gambling.