Thursday, 21 September 2017

Monthly Archives March 2011

“Diamond’s Fed Nomination Faces Renewed GOP Criticism”

Posted by Tom Duncan
March 9, 2011
in Blog

“The Obama administration nominated Diamond as an ally to Federal Reserve Board Chairman Ben S. Bernanke and other members who have sought to provide an additional jolt of stimulus to the economy by buying long-term Treasuries. Such purchases lower long-term interest rates on mortgages and corporate bonds, encouraging consumers and businesses to borrow and spend.” […]

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“The Fiscal Stimulus Follies” – Richard Wagner

Posted by Tom Duncan
March 8, 2011
in Blog

“If people individually reduce their spending, the fiscal stimulists claim that government can fill the void by spending more. This is a portrait of government spending as providing a “shot of adrenaline for a slumping economy,” to cite a common image. To shift metaphors, the fiscal stimulists portray an economy as if it was a […]

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“Oil Jump Presents Conundrum for Fed” – WSJ

Posted by Tom Duncan
March 8, 2011
in Blog

“Two top Federal Reserve officials on Monday offered conflicting views on the right response to higher oil prices, kicking off what’s likely to be a lively debate within the central bank. While Dallas Fed President Richard Fisher signaled higher oil prices may lead the central bank to roll back its huge monetary stimulus to prevent […]

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“Fed Officials Past and Present: ‘They Did It'” – Seeking Alpha

Posted by Tom Duncan
March 7, 2011
in Blog

“Lately, that seems to be the message coming from current and past Fed officials regarding the housing and credit boom in the early-to-mid 2000s. First Ben Bernanke, then Vincent Reinhart, and now Janet Yellen have come out saying it was excess savings by foreigners and failings in the U.S. private sector that was the root […]

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The Power to Tax – James M. Buchanan

Posted by Tom Duncan
March 7, 2011
in Blog

“The Leviathan exploitation of the revenue potential of the money-creation power is a possibility that will be among those to be reckoned with in the constitutional deliberations of the citizen when he considers the possible efficacy of granting independent powers of money creation to government. As the analysis is intended to suggest, it is difficult, […]

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“Fed Chief Steps Back Into Political Matters” – AP

Posted by Tom Duncan
March 7, 2011
in Blog

“The danger for Bernanke in politicizing the Fed, some economists and academics say, is that it makes it easier for Congress and the White House to pressure the Fed to make decisions that are politically popular but not good for the economy. “Bernanke should be fighting to maintain the Fed’s independence, rather than becoming more […]

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Sound Money Project Conference, Dallas, TX, April 1st, 2011

March 3, 2011
in Blog

Atlas is sponsoring a Sound Money Project conference in the afternoon of Friday, April 1, 2011, at the Adolphus Hotel in Dallas, Texas, before the Philadelphia Society National Meeting.  The theme of this conference is “The Consequences of Progressivism on Money and Investment.” This half-day conference will address the importance of restoring the principles of […]

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Was Gold Standard too Expensive?

March 3, 2011
in Blog

There are two main reasons usually mentioned to prefer fiat money over gold standard. One is that fiat money offers more flexibility to do fine tuning on the economy and also central banks will have their hand free if they need to go into a monetary stimulus. The other reason is that a regime of […]

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“Fed’s Treasury Purchase ‘Monetizing the Debt,’ Hoenig Says”

Posted by Tom Duncan
March 3, 2011
in Blog

“Federal Reserve Bank of Kansas City President Thomas Hoenig said the central bank is “monetizing debt” with its purchases of U.S. Treasuries, a program that he says may spur inflation. “Yes, we are monetizing debt,” Hoenig said today in a speech in New York. “You buy bonds and you monetize debt. Right now, a lot […]

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“Why Dollar’s Reign Is Near An End” – WSJ

Posted by Tom Duncan
March 3, 2011
in Blog

“The greenback, in other words, is not just America’s currency. It’s the world’s. But as astonishing as that is, what may be even more astonishing is this: The dollar’s reign is coming to an end. I believe that over the next 10 years, we’re going to see a profound shift toward a world in which […]

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“Ron Paul to Bernanke: ‘Define the Dollar'” – WSJ

Posted by Tom Duncan
March 2, 2011
in Blog

“Long-time Fed basher Rep. Ron Paul (R., Texas), who wrote a book titled “End The Fed,” squared off Wednesday with Fed Chairman Ben Bernanke at a hearing on Capitol Hill and wasted little time going after the central bank. “The real cause of price inflation, which is a deadly threat to us right now, is […]

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Steve Horwitz to Speak at The Nassau Institute – April 13

Posted by Tom Duncan
March 2, 2011
in Blog

Steve Horwitz will be speaking for our friends at the Nassau Institute on April 13 in Nassau, The Bahamas. The lecture, entitled “Three Economic Myths”, will take place at the British Colonial Hilton at 6:30pm. For those attending the APEE conference, the Horwitz lecture will take place the day after APEE finishes. For more information, […]

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“Commodity-Price Gains Dog Bernanke’s Inflation” – WSJ

Posted by Tom Duncan
March 2, 2011
in Blog

““I just see a continuation of rising prices for the average family,” at a time where the Fed is constructing policies to ward off what it sees as the threat of deflation, Sen. Bob Menendez, a New Jersey Democrat told Bernanke. When told by Bernanke that core inflation levels were quite low and Fed policies […]

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“Been There Done That: The Political Economy of Déjà Vu” – Boettke, Smith, and Snow

Posted by Tom Duncan
March 2, 2011
in Blog

“In the midst of the current financial crisis the economics profession has seen a monumental resurrection of Keynesian ideas. The debate, which Keynes started back in the 1930s, is being picked up again, not where it left off, but in exactly the same place it started. While Keynesian theories were carefully critiqued by new classical […]

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“Gold and Money” – Warren Gibson

Posted by Tom Duncan
March 2, 2011
in Blog

“Nothing seems to arouse passions—pro and con—quite like suggestions that gold should once again play a role in our money. “Only gold is money,” says one side. “It’s a barbarous relic,” says the other. Let’s turn down the heat a bit and look into some propositions about gold. That should lead us to some reasonable […]

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