Category Archives: Macroeconomics

Keynesian thought is utopian

Posted on July 29, 2018 by William Holland

Credible economists like Hayek, even von Mises and Milton Friedman knew the limits of positivism in economic models.  It isn’t that they eschewed them outright, they knew the margins of their discipline, spending their time more on exposition in defense … Continue reading →

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Taming Bond Market Vigilantes

Posted on April 15, 2018 by William Holland

The U.S. Federal Reserve has tamed bond vigilantes.  Because prices move inversely to bond yields, historically, active investors reacted to adverse monetary or fiscal policies by dumping bonds that consequently raise yields.  Because the FED was the only game in … Continue reading →

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Fragile by Design: Bubbles, Mania’s & Credit Cycles

Posted on January 27, 2018 by William Holland

Ten years ago, the U.S. entered a Great Depression.  A decade on, the depression still occupies a strange place in the American psyche. America suffered a cumulative loss of output equaling $4trillion.  By any measure, working stiff’s haven’t recovered.  Many … Continue reading →

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Weakened Case For Higher Interest Rates: the Flattening Yield Curve

Posted on December 24, 2017 by William Holland

The canard of secular stagnation was laughable, especially given the credentialed gnomes belief in demand sided macro thought.  No measure is ever given to the antecedents of our Constitutional Republic, its constitutive bases in civil society, in spheres of autonomy … Continue reading →

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The Mythology of Authority: Keynesian Abdication Called Secular Stagnation

Posted on March 28, 2015 by William Holland

When Raymond Aron wrote The Opium of Intellectuals, he wasn’t thinking of defending a perfect asshole like Paul Krugman, the Keynesian authority cited as the source for the canard secular stagnation.  Nor was he thinking of Dreyfus on French Guyana, even … Continue reading →

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