Make Before You Manage

Each morning, before plugging holes, fixing things, calling vets, answering text messages, delegating things, or yanking out dead raccoons, this mantra was a reminder to make something. Even the most time-sensitive items can usually wait 60 minutes, and by make something, I mean anything. You just need to feel like you’ve pushed a millimeter ahead in some creative direction. […]

Federal Reserve Announces QE Infinity

We now have QE to infinity and beyond. On March 23, the Federal Reserve announced it will purchase an “unlimited” amount of US Treasuries and mortgage-backed securities. —– …. the federal government was running near-record deficits even before the coronavirus crisis. That’s about to blow through the roof. The reality is this credit crisis started long before […]

Inflation: A Wealth Redistribution Scam

Even if the Federal Reserve wasn’t set to allow inflation to run hot, it targets 2% inflation as a matter of policy. In simple terms, the central bank intentionally devalues your money by 2% every single year. …. inflation has pernicious effects on the average person, while tremendously benefiting the chosen few. Polleit calls inflation an […]

The boost to growth from more monetary easing and more deficit spending — naturally always transitory and the source of further misallocations of resources — will be ever more faint and short-lived.

Instead of igniting a new false boom, a progressively larger share of the policy stimulus will simply evaporate in the service of maintaining the accumulated misallocations, of avoiding a correction of artificially raised asset prices and of bloated balance sheets. As the manufactured recoveries get weaker, fiscal deficits get larger as a result of the […]