China Bashing

This is a reprint from a column I write for a local newspaper. — JH

If you watched the last presidential debate between President Obama and Mitt Romney you got an earful about that evil bastion of trade manipulation, China. It seems that whenever a candidate for public office is desperate to attack [...]


The End of Sound Money and the Triumph of Crony Capitalism

This is the 2011 Henry Hazlitt Memorial Lecture,  given by David Stockman on March 12 at the Mises Institute’s Austrian Scholar’s Conference. It is an important white paper dealing with the myth of the bailouts and the policies that have led to the monetary and fiscal frankenstein we have today. Stockman recounts the [...]


Message From The Land Of Conventional Wisdom 1.2

Report from The Milken Institute Global Conference

The men in dark suits are everywhere. This is serious stuff. The topic on everyone’s mind is money. And there is lots of it. The guys that run pension funds for state, county, and local governments are here in force. The hedge funders, the investment advisers, the economists, [...]


Obama Strikes Out Twice At G-20

In a follow-up to yesterday’s post on foreign exchange (“Hot Money, Gold, Foreign Exchange And The Fallout From QE“), the first day of the G-20 meeting in Seoul was not a good one for the Obama Administration and President Obama in particular. Mr. Obama was unable to conclude a free trade agreement with South Korea, [...]


Hot Money, Gold, Foreign Exchange And The Fallout From QE

What do “hot money,” gold, sovereign debt, foreign trade, and Germany and China all have in common? Everything. They are all lined up against the U.S. and our new quantitative easing (QE2). There is fallout related to quantitative easing, and the markets are reacting, from the Fed’s perspective, badly.

QE is just a way to flood the economy, [...]


Currency ‘Agreement’ Lasts 4 Days

TIm Geithner got an agreement at the G-20 meeting in Gyeongju, South Korea to “rebalance” world trade balances:

Under a deal hammered out this weekend at a meeting in Gyeongju, South Korea, finance ministers from big industrialized and developing economies agreed to try to maintain trade balances—which are both a reflection of and a determinant [...]