Are conservatives right about the Fed? Is it a malign force in America?

Summary: Central banks have never been more powerful, more significant to the economy, more controversial (although they've often been unpopular), or more misunderstood. Today we debunk two of the myths about their evil they do; at the end are links to posts about their limitations. . Contents About conservatives' faux history and economics About investment … Continue reading Are conservatives right about the Fed? Is it a malign force in America?

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What would a gold-backed currency do to America?

Summary:  The history of gold-based currencies, from Newton to the Great Depression, warns us that they are no panacea. If not carefully structured they can destroy an economy in extremis by preventing radical monetary easing.  This is part two of two looking at gold-based monetary systems, the theory and the history. See part one here. … Continue reading What would a gold-backed currency do to America?

Why do so many Americans want a gold-based currency?

Summary: Periods of economic stress tend to bring forth quack simplistic economic theories, like during the 1930s. We will see more of these if this slow period continues, more so if we have another recession before a recovery.   Not just gold, but other fringe ideas such as Ayn Rand and her mutant version of Marx's … Continue reading Why do so many Americans want a gold-based currency?

Why Conservatives are winning: they use the WMD of political debate

Summary:  Conservatives have found that insights by Gresham and Lenin create superweapons of political debate in modern America.  Glittering lies, simple and attractive but false assertions at high volume that drive accurate analysis off-stage.  Ignore rebuttals.  Instead launch a new salve of lies.  Ignore the long, complex, softly worded replies by experts.  The result so far is slow victory, perhaps eventual control of America's … Continue reading Why Conservatives are winning: they use the WMD of political debate