February 12th, 2014
in Op Ed
by Ellen Brown, Web of Debt
"Epic in scale, unprecedented in world history." That is how William K. Black, professor of law and economics and former bank fraud investigator, describes the frauds in which JPMorgan Chase (JPM) has now been implicated. They involve more than a dozen felonies, including bid-rigging on municipal bond debt; colluding to rig interest rates on hundreds of trillions of dollars in mortgages, derivatives and other contracts; exposing investors to excessive risk; failing to disclose known risks, including those in the Bernie Madoff scandal; and engaging in multiple forms of mortgage fraud.
February 11th, 2014
in Op Ed
Janet Yellen "Will Spot Asset Bubbles Before They Burst." Can She Also Walk on Water and Cure Aging?
by Larry Doyle, Sense on Cents
Do you ever get incoming e-mails that just leave you scratching your head and thinking, "Are you kidding me?"
I am going to guess that we all do and most would typically delete them in short order. I almost did that last week when I saw an incoming message informing me that Janet Yellen, the new head of the Federal Reserve, possessed powers and vision that some might define as otherworldly.
Written by Dan Lieberman, Alternativeinsight
Can someone clarify a significant economic and well accepted proposition that bothers me?
The notion that the Keynesian multiplier means that "an exogenous increase in spending, such as an increase in government outlays, increases total spending by a multiple of that increase," is troublesome. Is it possible to add one dollar to the money supply and magically turn it into more dollars? I don't think this is possible. I believe economists have misinterpreted the multiplier. To me, if it is not a multiplier, then the multiplying factor can never be more than one.
February 10th, 2014
in Op Ed
by Joseph Salerno, Ludwig von Mises Institute
First they ignore you, then they laugh at you, then they fight you, then you win. (Mahatma Gandhi)
Final victory draws ever nearer for Austrian economics. Over the weekend, the New York Times – with its intellectual cachet rapidly waning and its finances in parlous straits – ran a tedious and rambling hit piece on Rand Paul. The article went out of its way to target the Mises Institute – the long-time home of mainline Austrian economics. Lew Rockwell wrote a response graciously accepting the honor associated with being recognized as a leading intellectual threat to establishment economics and the American Welfare - Warfare State by the leading media mouthpiece for the regime. Hard on the heels of this article comes another attack on Austrian economics in the Times. This one appears in an op ed by house Keynesian Paul Krugman whose one-note diatribes have long ceased to outrage or amuse. Even Krugman’s title, “Soup Kitchens Caused the Great Depression,” has been recycled. And it is not rendered any less tired by the addition of “the AFF Edition,” an idiosyncratic acronym which, as Krugman is forced to explain in the first sentence of the text, means “Austrian Founding Fathers.”