Dude, Where’s my Inflation?

It is often held as conventional wisdom that expanding the money supply means causing inflation. Those claiming this say that “printing” more money will automatically increase the prices of goods and services in an economy. In the view of many, the expansion of the money supply somehow bypasses the forces of supply and demand and…

Rising Subprime Auto Defaults and Fictional Value

If Forrest Gump were an economist he’d say: “My Mama always said capital is as capital does.” Such is the logic of capital. Years removed from the subprime mortgage crisis of 2007-08, it appears that the capitalist economy of the US has not learned its lesson. Another subprime lending time bomb has appeared. This time…