Jerome Powell made Ben Bernanke look like an Austrian during the coronavirus pandemonium. Unlimited quantitative easing, near-zero interest rates, corporate bond-buying, billions in dollar swaps, and an explosion in the balance sheet in just a few months. But how incredible was money-supply growth? Here is the M2 money supply in 2020:
Federal Reserve
Will the Federal Reserve rescue America from the jobs recession?
By: Robert Murphy This year has been a slow-motion train wreck on many levels. Americans have understandably been so preoccupied with the election and the unprecedented violations of individual liberties in the name of fighting covid-19, that there hasn’t been much attention left for what the Federal Reserve and US Treasury have been up to. […]
Subzero interest rates are the path to poverty
By: Doug French Almost Daily Grant’s (ADG) made the pronouncement on December 14th that a “new benchmark in financial repression” had been set: ”a record $18.4 trillion in global debt is priced to yield less than zero, up from less than $8 trillion in March and a five-year average of $10.3 trillion.” ADG consulted interest rate historians Sidney […]
Is this the weirdest, craziest, most distorted U.S. economy ever?
By: Doug French Between the Federal Reserve, Congress, and covid, navigating the business cycle is equivalent to sneaking through a house of mirrors. The stock market is making new highs as unemployment rates do the same. Thousands line up for free food and soon will do the same to be vaccinated. The nation’s governors tighten […]
WAR ON CASH: What is the motivation behind central bank digital currencies (CBDCs)?
By: Kristoffer Mousten Hansen Twenty twenty is a year dominated by bad news. While governments around the world have imposed extremely destructive restrictions on economic life and promise a “Great Reset” that amounts to a great leap forward into the socialist future, central bankers have advanced plans for implementing central bank digital currencies (CBDCs). These […]