Tag Archives: William McChesney Martin

Tracking “Bubble Finance” Risks in a Single Chart

In his 712-page tour de force, The Great Deformation, David Stockman dissects America’s descent into the present era of “bubble finance.” He describes the housing bubble’s early stages as follows: The American savings deficit was transparent after the turn of … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , , , , , , | Comments Off

Preparing for Bernanke’s Speech with a Short “Who Said It?” Quiz

In case you missed the late announcement, Ben Bernanke is scheduled to deliver a speech on Wednesday afternoon, covering the Federal Reserve Bank’s track record through its 100 year history. Presumably, he’ll also spend time defending current policies, in both prepared remarks and … Continue reading

Posted in Uncategorized | Tagged , , , , , , | Comments Off

Why We Shouldn’t Trust the Fed’s Inflation Target

Awhile back, I thought it might be interesting to create one of those island economy stories to demonstrate a problem with the Fed’s policy framework. I finally got around to it over the past week, after reading an article on the … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , , | Comments Off