The house organ for the Council of Foreign Relations, Foreign Affairs, has published its final solution under the title: “Print Less and Transfer More: Why Central Banks Should Give Money directly to the People.”
Today, everyone believes that market price levels are largely driven by monetary policy and that we are being played by politicians and central bankers using their words for effect rather than direct communication.
Frederick J. Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009), which was translated and republished in Chinese (2014). He is researching…
Have you no sense of decency sir, at long last? Have you left no sense of decency?
Federal Reserve Chairman Janet Yellen sounds more preposterous every time she opens her mouth.
On this 225th anniversary of liberté, égalit́́e, and fraternité, Alexis de Tocqueville’s The Old Regime and the French Revolution (L’Ancien régime et la revolution), published in 1856, is, if not as invigorating as La Marseillaise, a worthy reflection upon Bastille Day. Following are some excerpts from Chapter eight, which carries the subtitle: “How, given the facts set forth in the preceding chapters, the Revolution was a foregone conclusion”:
Frederick J. Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009), which was translated and republished in Chinese (2014). He is research…
As always, there was plenty of talk after Federal Reserve Chairman Janet Yellen held a press conference yesterday, June 18, 2014. Complaints are heard she said nothing of substance, which is true. To what the Fed might do, Yellen answered, “It depends.”
Former Federal Reserve Chairman Paul Volcker (Princeton ’49) returned to campus on May 30, 2014. He was treading in the devil’s den and has been treated accordingly. It is the homeport of Alan Blinder, Paul Krugman, Ben Bernanke and an arsenal of other pint-sized sophists.
This is the story of how concentrated power in a few men’s hands helped only a few people. Alan Greenspan’s decisions made the average person poorer.