For most of the 20th century, there was a clear wall between working people’s pension funds and the riskier corners of financial markets. This wasn’t accidental—it was the law.
Fed chair Ben Bernanke got “hooked” on Milton Friedman and Anna Schwartz while he was in grad school. Following their teachings on the Great Depression, he’s been starving the real economy to avoid interfering in free markets. Read more »
Although you have to dig into the statistics to know it, unemployment in the United States is now worse than at any time since the end of the Great Depression.
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Part recession, part depression, today’s economic meltdown is very much a product of the large dose of economic repression that
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