BankNotes Archive – January 2016

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BankNotes Articles from January 2016

Did “Tight” Fed Policy Cause the Financial Crisis?

January 5, 2016

DECEMBER 16, 2015 — Robert P. Murphy Recently Senator Ted Cruz aggressively questioned Janet Yellen on the Fed’s possible role in causing the financial crisis and subsequent recession. In particular, he claimed that “in the summer of 2008” the Fed “told markets that it was shifting to a tighter monetary … Read more

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Thanks, Janet Yellen: Homeownership in US Falls to 25-Year Low

January 5, 2016

December 11, 2015 Ryan McMaken I do not regard home ownership rates as a proxy measure of economic prosperity. But, in the United States, increasing home ownership has long been a goal of federal policymakers, and Federal Reserve policy is often defended on the grounds that it makes home ownership … Read more

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PC Is About Control, Not Etiquette

January 5, 2016

DECEMBER 28, 2015 — Jeff Deist [This article appears in the November–December 2015 issue of The Austrian.] I’d like to speak today about what political correctness is, at least in its modern version, what it is not, and what we might do to fight against it. To begin, we need … Read more

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VISION – Chapter Seven – Changes and Exchanges

January 5, 2016

by Leonard E. Read Note – Frequent readers of BANKNOTES are aware of my relationship with Leonard E. Read and my admiration for his works during his lifetime. In the following issues I will be sharing his book, VISION, one chapter per month. It was written in 1978. What a … Read more

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Bubble Watch: No-Down-Payment Jumbo Mortgage Makes a Comeback

January 5, 2016

by Paul-Martin Foss December 11, 2015 A credit union in San Francisco is offering a $2 million, no down payment mortgage loan to borrowers. And while this is being offered by a credit union, credit unions of necessity being more cautious lenders than banks, and the credit union will no … Read more

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No, “Big Data” Can’t Predict the Future

January 5, 2016

Per Bylund December 7, 2015 With Google’s dominance in the online search engine market we entered the Age of Free. Indeed, services offered online are nowadays expected to be offered at no cost. Which, of course, does not mean that there is no cost to it, only that the consumer … Read more

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