Monty Pelerin's World

Economic, Financial and Political Analysis

Archives for August, 2011

Paul Samuelson Recognizes Austrian Economics

Mises Wins the Nobel Prize in Economic Science, well sort of …  by Peter Boettke In his obituary of Bertil Ohlin, Paul Samuelson plays the game of “what if” — in this case, “what if the Nobel Prize was established in 1900, then who would have won the prize between 1901 and 1930?” This is list of [...]

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Warren Buffet – Savior or Angel of Doom?

The dire financial condition of the US has not been altered by Warren Buffet’s recently announced investment in Bank of America (BAC). His participation should not be read as a sign that Bank of America or the economy is improving. The Ruling Class’ Intended Meme Warren Buffet, according to Forbes, is the world’s third richest person.  Other [...]

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QOTD — Keynesian Economics is the Tool

Lew Rockwell on Keynesian Economics: In the market economy, there is a long-run tendency for errors to be corrected and replaced by different practices that uplift the people. In government, there is a long-run tendency to keep trying the same thing again and again, no matter how often or how badly it fails. Keynesianism is, [...]

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The Bernank’s Plan

The charade that is represented by world governments is becoming more strained by the day. Ben Bernanke’s decision to do nothing was ridiculous. Not in the sense that he can affect outcomes in any way shape or form, but in the sense that he can prolong the agony that the economy must endure. According to [...]

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Great Depression II May Be Just Around The Corner

I have no difficulty accepting the conclusion expressed by Phoenix Capital: However, regardless of when or if QE 3 comes, the fact remains that the financial markets are on DEFCON Red Alert today.  Indeed, I fully believe we have entered the Second Round of the Great Crisis: the Sovereign Default Round. The First Round (2008) was [...]

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