To those of us nutty enough to pore over dozens of pages of data on wealth and income in the U.S., the Federal Reserve’s quarterly Z.1 reports and annual Survey of Consumer Finances (SCF) are treasure troves, as are I.R.S.…
The official policy goal of the Federal Reserve and other central banks is to generate 3% inflation annually. Put another way: the central banks want to lower the purchasing power of their currencies by 33% every decade. In other words, those…
The trouble with inflating asset bubbles is that you have to keep inflating them or they pop. Unfortunately for the bubble-blowing central banks, asset bubbles are a double-bind: you cannot inflate assets forever. At some unpredictable point, the risk and moral…
Federal Reserve Chair Janet Yellen recently predicted that, thanks to the regulations implemented after the 2008 market meltdown, America would not experience another economic crisis “in our lifetimes.” Yellen’s statement should send […]
Higher interest rates will triple the interest on the federal debt to $830 billion annually by 2026, will hurt workers and young voters, and could bankrupt over 20% of US corporations, according to the IMF. The move is not necessary…
Higher interest rates will triple the interest on the federal debt to $830 billion annually by 2026, will hurt workers and young voters, and could bankrupt over 20% of US corporations, according to the IMF. The move is not necessary…
Campaign for Liberty Chairman Ron Paul and Senator Rand Paul recently co-wrote an editorial for RARE Liberty laying out the case for passage of the Audit the Fed bill this year.
Campaign for Liberty is working to get a majority of the House to […]
From Ron Paul’s Weekly Column:
Audit the Fed recently took a step closer to becoming law, when it was favorably reported by the House Committee on Oversight and Government Reform. This means the House could vote on the bill at any time. The […]
The Federal Reserve has been trying to boost the official inflation rate for eight long years, and apparently patience with current policies is finally wearing thin.Rumor has it that the Fed is readying a new “nuclear option”: distributing $1 million…
Below is my official statement before the House of Representatives Committee on Oversight and Government Reform.
If you have not yet seen the hearing, you can watch it here.
The opportunity to testify before the Oversight Committee was a […]
Take a quick glance at these charts of the Federal Reserve balance sheet and bank credit in the U.S. Notice what happened to bank credit after the Fed “tapered” and stopped expanding its balance sheet? Bank credit exploded higher: Now…
Former Dallas Federal Reserve Bank President Richard Fisher recently gave a speech identifying the Federal Reserve’s easy money/low interest rate policies as a source of the public anger that propelled Donald Trump into the White House. Mr. […]
Campaign for Liberty has joined a coalition in support of the Financial Choice Act (HR 5963). This bill makes a number of positive reforms in the federal financial regulations.
Among the bill’s reforms are making new financial regulations […]
Congratulations to Representative Scott Garret (NJ-05) for bringing up questions about how politics influences Federal Reserve policies (and whether the desire of one Fed governor to serve as Treasury Secretary in a Hillary Clinton administration […]
Yesterday I described the conditions that render the U.S. ungovernable. Here is a chart of why the U.S. economy will also be ungovernable. Longtime readers are acquainted with the S-curve model of expansion, maturity, stagnation and decline. This is why…