Why Monetary “Stimulus” Won’t Prevent an Economic Bust
The increase in the growth rate of the Consumer Price Index (CPI) has fueled concerns that if the rising trend were to continue the Fed is likely to tighten its interest rate stance. Observe that the yearly growth rate in the CPI climbed to 4.2 percent in April from...
Printing Currency at a “Constant” or “Stable” Rate Won’t Prevent Boom-Bust Cycles
A pure gold standard is immune from boom-bust cycles, since on the pure gold standard an increase in the money supply does not trigger an… According to Milton Friedman, the key cause of the business cycles is the fluctuations in the growth rate of money supply....
What the Trade Balance Means for a Currency’s Purchasing Power
In July this year the US trade balance stood at a deficit of $63.6 billion against a deficit of $51 billion in July last year. Some commentators regard a widening in the trade deficit as an ominous sign for the exchange rate of the US dollar against major currencies...
How Central Banks Destroy Money’s Purchasing Power
Most economists hold that a growing economy requires a growing money stock on grounds that growth gives rise to a greater demand for money that must be accommodated. Failing to do so, it is maintained, will lead to a decline in the prices of goods and services,...
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