Inflating the money supply (aka creating massive inflation) during a crisis and going into massive debt is like trying to dig your way over a mountain. History should be our guide, not Keynesian vudu. Actual transcript from Powell during his interview on 60 Minures below: https://www.cbsnews.com/news/coronavirus-economy-jerome-powell-federal-reserve-chairman-60-minutes/#app Scott Pelley: Where does it come from? Do you […]
Great financial books I recommend (how to think/live): Richest Man in Babylon (Clason) Cashflow Quadrant (Kiyosaki) Becoming your own Banker (Nash) The Case for IBC (Murphy) Great books for understanding current financial system (improves investing acumen): Lords of Easy Money (Leonard) How the Economy Grows and Why it Crashes (Schiff) – literally a picture book, […]
This article from Slate does a very decent job at explaining how bad the economic situation is and will most likely remain so for the foreseeable future. Then near the end, the classic Keynesian slip, “That is not to say that there is nothing to be done, of course, or that the current state of […]
