Hayek In Perspective: An Interview

Below I am enclosing a two-part audio in which I was interviewed on the the subject of austrian economist Friedrich Hayek.

Please beware that this interview is mainly of intellectual interest rather than any specific investment importance. Still I thought that some of you might find the subject interesting which is why I have decided to share it with you.

Please feel free to ignore these audio recordings if you have no special interest in Friedrich Hayek. For those of you that may have an interest in Friedrich Hayek, I hope you enjoy it!

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When QE Made Sense

At the right time and under the right circumstances, a policy of Quantitative Easing (QE) can be extremely valuable to a national economy.  In this article I will explain why QE1 was the right policy at the right time.  A stark contrast will be drawn to the present circumstances surrounding QE3.
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The Fed May Lose Control

Today, I think something quite important has happened:  Markets slipped ever so slightly out of the Fed’s grasp.  Is this a preview of things to come?

I have been talking to some of my top colleagues in bond, currency and and equity markets today, and there is one word that has most immediately come to my mind:  Disarray.

And I am not primarily talking about the price action, which has been quite volatile:  The 10Y Treasury yield up over 7% to 2.36%, high yield bonds down by almost 1.5%, emerging markets bonds getting clobbered down more than 2.0%, from the highs, and the S&P 500 down by 23 points.  I am talking about the fact that there is no consensus whatever regarding what the FOMC and its Chairman actually said or meant by what they said.  And most everybody seems to be scratching their heads as to why the markets have reacted as they have.

In this exclusive report to my subscribers, I am going to offer some insight about what is going on.

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Bill Gross’s Misguided Diagnosis Of America’s Economic Problems

Fortunately for Mr. Gross, and all of us that provide commentary on economic and financial affairs, people cannot be prosecuted for malpractice for merely expressing opinions. However, I do believe that ideas have consequences. And, for this reason, I am concerned that the faulty analysis propounded by Mr. Gross in the aforementioned essay (and subsequent follow-up media appearances) could gain currency amongst economic and financial analysts and/or the public at large.

Continue reading this article at Seeking Alpha.