The Fed was set up to defend the dollar and control inflation, and to be the lender of last resort during a monetary crisis. It has failed at the first job and has a mixed record in the second.
I have a major article on page 50 of this week’s Forbes magazine which makes the case for a new pro-business, pro-growth national statistic, Gross Output.
I’ve been advocating this new national statistic since writing “The Structure of Production,” published in 1990. Now it’s finally happening.
Our goal should be that every able-bodied American should have a decent job sufficient to get off of welfare.
J. P. Morgan may be in his grave, but he’s still coming under attack from the media.
I just returned from the famous New Orleans Investment Conference, where gold bugs meet every year, and many panel discussions were on ObamaCare, the disastrous “health” care law the Democrats pushed through Congress.