It’s finally time to initiate this blog. I will focus on politics, economics, and finance as these interrelated subjects relate to my Citizen’s Survival Guide to economic policy, soon to be published as an eBook on Amazon Kindle and also distributed free as a pdf.
Below I’ve posted two recent articles. The first is by Henry Kaufman, published in the WSJ Aug 1, which focuses on the inherent weaknesses and biases of economic science and policy. It’s worth a close read.
The second, by David Malpass, also published in the WSJ, on Aug. 5, is a pointed critique concerning the Federal Reserve’s current Zero Interest Rate Policy (ZIRP), that is doing little to stimulate economic growth at great cost to US savers and holders of dollar assets.
Of course, we know this policy is intended to bolster (inflate) asset values of the underlying collateral for the historic debt binge we’ve been on for the past three decades. It is also intended to reignite modest inflation and weaken the dollar and reduce dollar liabilities. But the policy is doing little beyond transferring enormous wealth from savers and taxpayers to creditors, while weakening new productive investment in the US that would create real job growth.
These illogical approaches to economic policy, with roots in the biases of the profession, are the subject of a new book titled, Political Economy Simplified: A Citizen’s Survival Guide. The book is intended as an economics primer for the non-economist. I’ll have it posted as a free pdf download on this blog site as soon as I figure out how to do that!