Janet Yellen didn't make much news this week when she testified before the House and Senate banking committees. She continued to defend the Fed's low interest rate policy, painted a very optimistic picture of the American economy, and struggled to defend her opposition to Audit the Fed. Unfortunately for Yellen, while she can duck and dodge the questioning of the occasionally hostile legislator, she can't avoid the consequences of the policies of herself and her predecessor.
The Bernanke-Yellen bubble will lead to the Bernanke-Yellen depression.
On Mises Weekends, Dr. Mark Thornton joins Jeff to explain the "business cycle" for what it really is: a series of booms (credit expansion) and busts (debt deleveraging) engineered by central banks. Mark explains why there's nothing natural, real, or sustainable about the current Yellen boom.
And in case you missed them, here are this weeks Mises Wire articles, covering a wide array of topics including: Yellen's continued denial that anything is wrong, "free" education, Nancy MacLeans distorted view of America, and do we really need the ATF?
Will Trump Be Less of a Spendthrift than His Republican Predecessors? by Ryan McMakenMcCaffrey and Dorobat on the Economics of Game of Thrones by Matthew McCaffrey and Carmen Elena DorobatThe Part-Time Critics of Central Banks by Mark SpitznagelThe High Cost of "Free" College by Nathan KeebleFive Takeaways from the House's Yellen Hearing by Tho BishopWhat's Driving Global Populism? by David GordonThe Ancient Incas and the Collectivist State by Richard M. EbelingBank of Canada Raises Rates for First Time in 7 Years by Caleb McMillanToday Janet Yellen Explained (Yet Again) Why Interest Rates Should Stay Low by Ryan McMakenOn Borrowed Time by Tim PriceThe Tragedy of the Commons in the American Prison System by Chris CaltonThoughts on Nancy MacLean vs. GMU by Jeff DeistJanet Yellen: False Prophet of Prosperity by Ron PaulThe Bernanke-Yellen Bubble-Depression by Mark ThorntonMacLean on James Buchanan: Fake History for an Age of Fake News by David GordonAbolish the ATF by Ryan McMakenRick Perry — and His Critics — Still Don't Understand Say's Law by Per BylundThe "Science" of Liberty by Murray RothbardFor Libertarians, the British Monarchy Is the Least of Our Worries by George Pickering