by Bob Chapman Publisher of The International Forecaster. WHEN YOU STOP and think about it, the Fed’s main instrument of monetary policy, the manipulation of interest rates, has been lost to it. That is two years with the same rate. What has become very obvious is that an official rise in rates would create all kinds of havoc. The same Continue Reading →
by Bob Chapman (pictured) Publisher of The International Forecaster. THE CHAIRMAN OF THE FEDERAL RESERVE, Ben Bernanke, would have us believe that if it were not for QE1, unemployment would have been considerably higher. Since QE2 began in June, U6 has only improved by ¼%. Perhaps better numbers are on the way, but that has not been an auspicious start. Continue Reading →
by Albert Jay Nock from The American Mercury, vol. XLI, no. 164 (August 1937), pp. 485-90. THERE IS NO question that the Liberals and Progressives are in the political saddle at the moment, fitted out with bucking-straps and a Spanish bit, and are riding the nation under spur and quirt. Liberalism became the fashion in 1932, so for six years Continue Reading →
by John W.B. Huie Exclusive to The American Mercury TODAY THE FEDERAL RESERVE, America’s private central bank, began to ship billions of dollars to the central bankers of Europe in an attempt to stem the fall in the value of the euro created by Greece’s debt crisis. The total value of the deal could easily top $1 trillion according to Continue Reading →
by Gideon Dene THE WORKS of American Mercury contributor and editor Henry Hazlitt (he was H.L. Mencken’s chosen successor) are brilliant gems of economic insight which, if they were only more well known, could change the downward spiral of the West’s economic fortunes. Did you know, for example, that inflation is not a rise in prices? Did you know that Continue Reading →