Central bankers think too much saving is a problem that must be solved with more money creation. But the real problem is the Keynesian-style fractional reserve banking system. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Why Americans Don’t Have Any Savings“ You Might Also Like Why This Bubble Economy Keeps Going and Going Quite a few people may wonder why the global fiat money system has not yet collapsed. The fiat money system did not crash in the financial and economic crisis of 2008/2009, when a great many people feared the debt pyramid would come crashing down. Builders in Denial The year 2006 seems like
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Central bankers think too much saving is a problem that must be solved with more money creation. But the real problem is the Keynesian-style fractional reserve banking system.
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros.
Original Article: “Why Americans Don’t Have Any Savings“
You Might Also Like
Why This Bubble Economy Keeps Going and Going
Quite a few people may wonder why the global fiat money system has not yet collapsed. The fiat money system did not crash in the financial and economic crisis of 2008/2009, when a great many people feared the debt pyramid would come crashing down.
Builders in Denial
The year 2006 seems like a lifetime ago. The housing boom seemed to be going full throttle, but danger lurked. I wrote on LewRockwell.com in March of that year, concerning a Las Vegas real estate seminar, that “nary a discouraging word was spoken.”
Business Owners Understand Why the Economy Can’t Just Be “Reopened”
My oldest turned seventeen last month. To commemorate the occasion, she and I watched Once Upon a Time in Hollywood. I’d taken her to her first (allegedly) rated-R movie a couple years ago to see the quite good Baby Driver, but this was Tarantino.
The Current Crisis Has Its Roots in the Central Bank
We have been locked down for weeks. Classes have been canceled. Only essential activities are allowed. Although there is much to cover and analyze, I want to focus on the economics of the situation. To understate it, the situation today is simply not good. The COVID-19 crisis has caused the world to lock down the population, which essentially ceased most commerce.
Why the Current Unemployment Is Worse Than the Great Depression
Government restrictions on production are driving prices up as unemployment drives them down. It’s impossible to say now whether price inflation or price deflation will be the predominant factor in the crisis’s next phase.
The Fed Has Gone Nuts. And It Can Get Worse.
With its $700 billion bond-buying expansion in response to the COVID crisis, the Federal Reserve has thrust itself into the limelight. Like a sixteen-year-old with a credit card, the Fed is salivating over what money-printing powers it shall seize next. How is the prudent investor to respond?
New York vs Texas: NY Has Nearly 50 Times More COVID-19 Deaths Per Capita
As of April 26, there were nearly 55,000 COVID-19 deaths reported in the United States. Of those, more than 22,000 (or about 40 percent) were in the state of New York alone. New Jersey was in second place, with nearly 5,900 COVID-19 deaths reported.
Government Regulation against “Monopolies” Only Lowers Our Standard of Living
According to a popular way of thinking, monopolies undermine the efficient functioning of the market economy by being able to influence the prices and the quantity of products. Consequently, this undermines the well-being of individuals in the economy. By this way of thinking, the inefficiency emerges because of the deviation from the ideal state of the market as depicted by the “perfect competition” framework.
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