So does the ability of households to borrow and lend in order not to be forced to match income and expenditure every day, week, month, or year.But what use is "high"...
The key problem in times like these is that investor demand for safe, secure, and liquid assets - and thus their value - is too high, while demand for assets that...
In response, central banks should purchase government bonds for cash in as large a quantity as needed to push their prices up as high as possible. Expensive government...
Getting another round of spending boosts and tax cuts will, however, be problematic. Partisan opposition is mounting. That there is partisan opposition is very strange....
But sane people would rather avoid inflation. It is a very dangerous expedient, one that undermines standards of value, renders economic calculation virtually...
This is a situation ripe for trouble, because one of these two diagnoses must be wrong. If the world’s central banks raise interest rates while the major problem is...
A year ago, however, with the subprime mortgage meltdown of August 2007, I became certain. The situation had to resolve itself within a year – or else. Either central...
Irving Kristol, sometime editor of the magazine The Public Interest and one of the intellectual midwives of this idea, later wrote that he was interested not in...