Milton Friedman

Milton Friedman & Conservatives Are Wrong In Education

"There is only one solution to the educational morass in which Americans find themselves: Separate school and state, just as our ancestors separated church and state. Repeal all school compulsory-attendance laws and school taxes and sell off the school buildings. End all government involvement in education, including licensing of schools. Establish a total free-market educational system."

Is Another Lost Decade Ahead?

"This time is 'not different'. The only difference will be what triggers the next valuation reversion when it occurs. If the last two bear markets haven’t taught you this by now, I am not sure what will. Maybe three times really is a 'charm'..."

Here's The Real Reason The Fed Is Making Absurd Monetary Decisions

"There have always been lags between the time of a policy shift and evidence of that shift in the broader economy. However, in a heavily indebted economy, with the velocity of money likely falling further, and policy rates close to the zero bound, the Fed’s current capabilities are decidedly asymmetric."

Bitcoin: Fake Asset Or Security?

What the success of bitcoin says about the world of dollars, euros and yen is unsettling at a number of levels, but then again, bitcoin is ultimately just a brilliantly designed virtual market that, initially at least, promised security and anonymity.  Whether those qualities can endure as the audience grows is a very intriguing question that investors need to consider.

Welcome To Donald Trump's Very Own Big, Fat, Ugly Bubble

"...the Fed is only now beginning to apprehend the train-wreck that lies dead ahead (the June FOMC minutes were grasping for something dimly worrisome)... The Donald now owns the Bubble and has left his Presidency and the American economy squarely in harms’ way..."

The Hidden State Of Money: Bonds, Bias, & Bullshit

"...the bond market is one of the few legitimate windows into hidden monetary conditions, and what it has said about the 21st century isn’t what economists and policymakers want to hear. The conundrum and its current revival are just that simple."