Franklin Raines, speaking for the Bush administration, says that he is in the “American Dream business.” Raines is chairman and CEO of Fannie Mae, a corporation whose mission is “to tear down barriers, lower costs, and increase the opportunities for homeownership and affordable rental housing for all Americans. Because having a safe place to call
Once lauded in congressional love-fests and accorded rock-star-like status by legions of stock market investors, Federal Reserve Chief Alan Greenspan is increasingly being attacked by critics. A previous generation of promoters blamed Greenspan for raising interest rates in 2000 and causing the bear market. A new set of critics now claims that
For the time being, the Fed’s decision makers have decided to keep the federal funds rate target unchanged at 1.75 percent. They hinted, however, that if the economy were to slow further, they would lower the rate. Some commentators have protested that the Fed should not lower rates because doing so will dilute the strength of this tool in
In a recent article, Paul Krugman pines for the lost America of the 1950s and 1960s, which he characterizes as a “middle class society”. While inequality existed, Krugman tells us, it was not nearly as bad as the Gilded Age where robber barons ran roughshod over the less fortunate. It is Krugman’s contention that the United States has returned
Somehow, someway, it always comes back to the central bank. With economic anxiety growing, trouble in Latin America , frustration at the length of the recession, suspicions that matters are going to get worse before they are better, and, above all, terror that stock prices could fall ever further, Alan Greenspan is letting it be known that rate
With the mid-term elections barely over, the Federal Reserve, in a move that gives even politics a bad name, has announced yet another cut in its key interest rates. The Federal Funds Rate is down to 1.25 percent, while the discount rate now stands at 0.75 percent. No doubt, economists from all sides will applaud this “long overdue” move by
The Analyst , published by the Institute of Chartered Financial Analysts of India ( ICFAI ), interviewed Joseph T. Salerno, editor of the Quarterly Journal of Austrian Economics , concerning the financial and banking chaos in Argentina: Q : Are proposed reforms enough to justify having the IMF lend a helping hand to Argentina? SALERNO : To begin
The Analyst , publicado por el Institute of Chartered Financial Analysts of India (ICFAI), entrevistó a Joseph T. Salerno, editor del Quarterly Journal of Austrian Economics , respecto del caos financiero y bancario en Argentina : P: ¿Son bastantes las reformas propuestas como para justificar que el FMI eche una mano a Argentina? SALERNO: Para
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.