Janet Yellen didn't make much news this week when she testified before the House and Senate banking committees. She continued to defend the Fed's low interest rate policy, painted a very optimistic picture of the American economy, and struggled to defend her opposition to Audit the Fed. Unfortunately for Yellen, while she can duck and dodge the questioning of the occasionally hostile legislator, she can't avoid the consequences of the policies of herself and her predecessor.
The Bernanke-Yellen bubble will lead to the Bernanke-Yellen depression.
On Mises Weekends, Dr. Mark Thornton joins Jeff to explain the "business cycle" for what it really is: a series of booms (credit expansion) and busts (debt deleveraging) engineered by central banks. Mark explains why there's nothing natural, real, or sustainable about the current Yellen boom.
And in case you missed them, here are this weeks Mises Wire articles, covering a wide array of topics including: Yellen's continued denial that anything is wrong, "free" education, Nancy MacLeans distorted view of America, and do we really need the ATF?
- Will Trump Be Less of a Spendthrift than His Republican Predecessors? by Ryan McMaken
- McCaffrey and Dorobat on the Economics of Game of Thrones by Matthew McCaffrey and Carmen Elena Dorobat
- The Part-Time Critics of Central Banks by Mark Spitznagel
- The High Cost of "Free" College by Nathan Keeble
- Five Takeaways from the House's Yellen Hearing by Tho Bishop
- What's Driving Global Populism? by David Gordon
- The Ancient Incas and the Collectivist State by Richard M. Ebeling
- Bank of Canada Raises Rates for First Time in 7 Years by Caleb McMillan
- Today Janet Yellen Explained (Yet Again) Why Interest Rates Should Stay Low by Ryan McMaken
- On Borrowed Time by Tim Price
- The Tragedy of the Commons in the American Prison System by Chris Calton
- Thoughts on Nancy MacLean vs. GMU by Jeff Deist
- Janet Yellen: False Prophet of Prosperity by Ron Paul
- The Bernanke-Yellen Bubble-Depression by Mark Thornton
- MacLean on James Buchanan: Fake History for an Age of Fake News by David Gordon
- Abolish the ATF by Ryan McMaken
- Rick Perry — and His Critics — Still Don't Understand Say's Law by Per Bylund
- The "Science" of Liberty by Murray Rothbard
- For Libertarians, the British Monarchy Is the Least of Our Worries by George Pickering
