A Government-Made Recession

By mid 2008 almost everybody knew that we were in deep financial trouble. But the forces that brought it about actually began decades ago with The Community Reinvestment Act in 1977. This legislation โ€œforced lending institutions to grant mortgages to people whose...

“Small Is Beautiful” Guy Hearts Fed

Hereโ€™s a reply I just wrote to an email asking me where a certain person got the idea that the economy was in recession 40% of the time in the nineteenth century.ย  I am calling the person X, because heโ€™s about the most uncharitable (and uncomprehending) antagonist...