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Bad Monetary Policy Is Redundant

The Austrian theory of the trade cycle explains why the Fed's below-market interest rates invariably lead to a correction known as the bust. The theory is not new. Why has it been so out of favor with most economists?

Part III: The Dominant Causes of the Credit Crisis

Is Savings and Investments Part of the Solution or Part of the Problem? Over the last few months there seems to be a growing awareness that the world economy has come up against an invisible wall.

Credit scores suddenly plunge

Question: I recently went to one of those credit report websites advertised as free and paid for copies of our FICO (Fair Isaac Corp.) credit scores. The report said my score was 722 and my husband's was 720, which are both considered to be excellent credit.

Financial 411: New SEC Rules, and a New Building on the Horizon

Another day of disappointing economic news sent stock markets down when the opening bell rang this morning. At one point, the Dow Jones traded below 10,000. But by the end of the day, the markets managed to recover and ended the day positive. The Dow was up 19 points to close at 10,060. The Nasdaq gained 18, ending the day at 2,141. The S&P 500 was up 3 points. Investors and economists were ...

Refi frenzy: Tips for borrowers

It happened in 2001. And it happened again in 2003 and 2004. Interest rates plummeted to levels not seen in decades, and a refi frenzy gripped the nation. Homeowners queued up to endure a bewildering array of offers and questions to lower their...