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A Rising Dollar Terrifies Keynesians

Written by Gary North on January 28, 2015

janet-yellen

The headline in the Financial Times blares this message: Strong dollar weighs on US results. Keynesians love soft dollars. They love price inflation. They love a boom caused by central bank inflation. The Federal Reserve stopped QE3 last year. It is no longer buying U.S. government debt, Fannie Mae debt, Freddy Mac debt, or anything […]

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The Fable of the Bees Revised

Written by Gary North on January 13, 2015

The most influential poem in history is Bernard Mandeville’s “The Grumbling Hive; or Knaves Turned Honest” (1705). It challenged Western moral philosophy, Christian theology, and common sense. It changed the thinking of Western social theorists. Through Adam Smith, it changed the economic world. Yet it was not a good poem. This gives me hope. You […]

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Keynesianism + Central Bank Counterfeiting + Aging = Stagnation

Posted on December 26, 2014

Japanese drew down savings for the first time on record while wages adjusted for inflation dropped the most in almost five years, highlighting challenges for Prime Minister Shinzo Abe as he tries to revive the world’s third-largest economy. The savings rate in the year through March was minus 1.3 percent, the first negative reading in […]

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Tsunami + Keynesianism + Sharia Law = Stagnation

Posted on December 26, 2014

After the peace came $7.2bn of relief funds from international donors and the Indonesian government in one of the world’s biggest and most complex disaster reconstruction efforts. It left Aceh with some of the country’s best roads and hospitals, 140,000 new homes and 1,400 new schools. The funds also gave a big boost to the […]

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Blaming the Geezers, Not the State

Written by Gary North on December 22, 2014

geezers

The prestigious Financial Times offers an explanation for the West’s pessimism.  It blames aging. It does not blame Keynesianism. It does not blame a loss of faith in the idea of progress, a factor that Robert Nisbet warned against in the Epilogue to his great book, History of the Idea of Progress (1980). It does […]

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Another Krugman Kontradition: New Taxes, Yes and No

Written by Robert Murphy on November 20, 2014

I coined the term “Krugman Kontradiction” to refer to the Nobel laureate’s tendency to lead his readers in one direction on an issue, then do a total about-face when circumstances make that convenient, while whipping up a new set of assumptions and emphases in his economic analysis so as to reconcile the switch. I’ve got […]

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Green Magic: Keynesian Forecasts

Posted on November 6, 2014

european-commission

By David Stockman The information flow in a $17 trillion economy is far too vast to be digested and assessed by the 12 mortal members of the FOMC, and their policy control instrument—-the bludgeon of interest rate manipulations—-could not  possibly shape its short-run course in any event. That’s especially true since the macro-economy is not […]

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