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Disasters Can Happen

How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System

How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System

by MN Gordon

Economic Prism

Bernanke Redux

Somehow, former Federal Reserve Chairman Ben Bernanke found time from his busy hedge fund advisory duties last week to tell his ex-employer how to do its job.  Namely, he recommended to his former cohorts at the Fed how much they should reduce the Fed’s balance sheet by.  In other words, he told them how to go about cleaning up his mess.

We couldn’t recall the last time we’d seen or heard from Bernanke.  But soon it all came back to us.  There he was, in the flesh, babbling on (Read More....)

. . . → Read More: How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System

The Fed’s Edifice Crumbles Away

Moneyby MN Gordon

Economic Prism

There have been many appeals to ignorance over the last several years with respect to the effectiveness of monetary policy. One popular tactic of policy goons is to point to an improved economic statistic – like unemployment – and self-adulate for maneuvering it down. The fading print media rarely questions these spurious claims.

But just because one action was taken doesn’t mean it was the cause of a later result. For correlation does not imply causation. Or, as the post hoc fallacy claims, “after this, therefore because of this”…post hoc ergo propter hoc.

“Gross domestic product has increased,” a policy conspirator may hold up as evidence of their handiwork, “therefore, quantitative easing (Read More....)

. . . → Read More: The Fed’s Edifice Crumbles Away

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