Here’s a pretty good link from the FRB of St. Louis showing a timeline of financial crisis events, including this recent beauty:
December 11, 2009 | U.S. House of Representatives Press Release
The U.S. House of Representatives approves legislation that would create a Financial Stability Council to identify financial firms that pose systemic risk and which will be subject [...]
Nassim Nicholas Taleb has a great podcast with Russ Roberts of Econtalk. I am posting the link to the most recent one as well as another one from 2007 that is worth listening to.
Taleb on the Financial Crisis 2009 Podcast
Taleb on Black Swans 2007 Podcast
And if you would like more, here is Taleb’s homepage and [...]
Unintended consequences anyone?
Dear readers:
I apologise for the lack of posts lately. I have been out of town at the Austrian Scholars Conference. I presented a paper with Mark Thornton on Richard Cantillon and how (we argue) Cantillon views entrepreneurship theory as leading to discovery of economic theory. It was a great conference although travel from OZ to [...]
12,070,595.75 Zimbabwe Dollars = $1 US Dollar
I decided to post some additional charts from Shadowstats.com (see more here; previous post here).
From their website on unemployment:
The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated “discouraged workers” defined away during the Clinton Administration added to the existing BLS estimates of level U-6 unemployment.
And, finally, GDP growth:
Whenever I listen to Econtalk’s Russ Roberts talk about the current financial crisis I am always waiting for him to come out and blame the Federal Reserve. He seems to be a Hayekian, which doesn’t translate into an Austrian, although I am pretty sure he is a small govt libertarian. But for some reason he [...]
From the McKinsey Quarterly, showing how banks (granted a State monopoly on money) are becoming bigger monopolies (which could not exist in a free market; see Rothbard’s chapter on “Monopoly and Competition” for his brilliant analysis):
[This exhibit] shows the top 30 US banks and savings institutions in June 1994, 2007, and 2008, measured by their domestic [...]
