VOICE OF REASON
I have thoroughly enjoyed the analysis and interviews at The Daily Bell, which has so often been a voice of reason during these perilous times
PROFOUND AND PROVOCATIVE
Every day, I rely on the Daily Bell for a different perspective you'll never find in the regular media. It's an analysis and timely insight that is profound and provocative.
GREAT JOB, DAILY BELL
I can say that, unlike the mainstream press, The Daily Bell knows the questions to ask and has the chutzpah to ask them. They realize that socialism and Keynesianism are wrecking the world and they are helping to save what is left of liberty and free markets.
INSIGHT YOU CANNOT IGNORE
The Daily Bell provides unique insights on contemporary political, economic and social problems that can be found in such a concentrated form nowhere else. Whether one agrees or disagrees with it, one cannot afford to ignore it.
A LEADING LIGHT
The future is created by the people who build it, not the people who predict it will not exist. You can meet lots of important builders by reading The Daily Bell.
There is no other publication in print or on the Internet like The Daily Bell. They have the courage to report the truth and analyze current foreign policy, politics and economic events in the context of a formerly hidden history of financial elites.
Sit down to read from The Daily Bell and experience a jolt of intellectual energy.
GREAT THINKERS YOU CAN'T GET ANYWHERE ELSE
The Daily Bell has revived that great old institution of the personal interview, extracting information from today's great thinkers you can't get anywhere else. Outstanding!
The Daily Bell is a fantastic source of challenging thought from a wide range of freedom loving people.
I read The Daily Bell every day and I find it very informative.
The Daily Bell does a remarkable job of exposing how money power uses central banking to crush people into submission via global government with economic and political slavery being the desired end result.
A VIRTUAL WHO'S WHO
The good and the bad, the big dogs and the small, the thinkers and the doers among libertarians and on the "Right" – you can encounter them all in The Daily Bell's exclusive weekly interviews. Indispensable.
For alternative views on contemporary politics, culture and science, from a libertarian point of view, check out The Daily Bell.
The Daily Bell affords an excellent alternative perspective on some of the noise and nonsense of mainstream media. In particular, I enjoy reading Anthony Wile's 'free-market analysis' on current subjects and articles. Very insightful.
MESSAGES OF TRUTH
The Daily Bell website is one of the authentic voices cutting through the clouds of vapid opinion, the morass of mediocre media and the confusion of Orwellian doublespeak. The Bell website lives up to its name, ringing unheard messages of truth in our ears.
TRUTH AT WORK
There are very few publications out there that have the smarts and guts to tell the truth about the dictatorial forces at work destroying our civilization. Thankfully The Daily Bell is one of them, and it appears in the mailbox every day.
READ IT EVERY DAY
A defender of free markets, The Daily Bell takes a libertarian approach to expose and unravel global misinformation. Read The Daily Bell – every day!
NEVER MISS AN ISSUE
I love the Daily Bell. Every issue is principled and informative.
The Daily Bell has a great libertarian point of view, and excellent economic analysis. Add it to your daily reading.
THE DAILY BELL IS A MUST-READ
Because the world is changing so rapidly, it is difficult to keep up, which means The Daily Bell is a must read. I consider the information critically important reading.
Get outside the box with The Daily Bell and experience independent views.
GUTS, OBJECTIVITY, WISDOM
Rarely does a publication have the guts and objectivity to tell it like it is, yet the eloquence and wisdom to listen carefully to the ‘other side.’ This is The Daily Bell accomplishing its daily mission.
CUTTING EDGE ANALYSIS
At a time when growing majorities worldwide are tuning out mainstream news, people are seeking the cutting edge, insightful and thought provoking analysis that The Daily Bell consistently provides.
Liberty is under assault by Big Government. The Daily Bell is an essential tool for information for those who want to fight for freedom.
The Daily Bell is an indispensable source of news and information for those seeking to curtail the power of the welfare-warfare state.
AHEAD OF THE CURVE
The Daily Bell has come out of nowhere to introduce to the Internet community some of the most intriguing and proactive interviews there are out there. Let's hear it for creativity and being ahead of the curve.
SOURCES YOU CAN TRUST
The Daily Bell should be on everyone's shortlist of news sources you can trust. It's on mine, and we often refer to it in our own weekly news service at The Reality Zone.
The Daily Bell is one of the most innovative and in-depth websites on the Internet. The breadth of the content is awe inspiring and the amount of knowledge imparted is almost impossible to quantify. For me, as a liberty minded seeker of knowledge, it is a must read.
GREAT INVESTMENT INFORMATION
I love reading The Daily Bell! Interesting investment information, a political and social viewpoint that lets me know I'm not alone in the world and "annotated" with analysis. I highly recommend it to all interested readers.
I consider The Daily Bell essential reading for anyone desirous of understanding the way the world really works.
I really enjoy reading The Daily Bell for the excellent research and content provided on a wide variety of issues vital to the Freedom Movement.
PART OF MY DAILY NEWS DIET
I read it every day!
INFORMATIVE SOURCE OF INFORMATION
The Daily Bell is an informative source of information and commentary from leading figures in the liberty movement. It's a pleasure to be interviewed alongside far more notable individuals.
OUT OF THE DARK
The Daily Bell leads us out of the dark tunnel of manipulated press into the light of free press.
SEPARATES WHEAT FROM CHAFF
The Daily Bell is a true beacon to lead in helping the reader to separate the wheat from the chaff.
PREMIER FREE-MARKET ANALYSIS
The Daily Bell rings out for liberty every day. It is the premier online source for insightful and hard-hitting free-market analysis and interpretation of economic, political and business events.
THOUGHTFUL NEWS, EXCLUSIVE INTERVIEWS
I always read the Bell. The news items are thoughtfully selected, and the interviews are unavailable elsewhere.
I enjoy reading The Daily Bell because it often has refreshing and novel ways of looking at things.
A MUST-READ FOR EVERYONE
The Daily Bell is a must-read for anyone who wants to understand the effects of the state on our economic future.
The Daily Bell features consistently solid analysis of and thoughtful challenges to contemporary statism. I am proud to be on the team.
Is the Federal Reserve Insane? ... Americans have been whipsawed by devastating cycles of boom and bust over the past three decades. Now some at the Fed want us to go through it again. – Bloomberg
Dominant Social Theme: The Fed is not insane. It is sensible and proactive.
Free-Market Analysis: This is an unusual article to appear in Bloomberg, especially given the headline. But unfortunately, it promises more than it delivers.
It would be nice to read a real evaluation of central banking in the modern mainstream press. But perhaps this is as close as we can expect to get. The author explains that low interest rates and money manipulation have given rise to wild economic swings and questions about the current monetary easing.
In fact, he does more than question it. He actively questions the central bankers' mental health. He basically comes out and states that by keeping interest rates artificially low, Ben Bernanke, et al. are setting the world up for yet another bubble and another crash.
Here's more from the article:
The excesses of the 1980s -- leveraged buyouts, the junk bond bubble and wild property speculation -- led directly to the original "jobless recovery" of the early 1990s. This occurred despite a prolonged period of very low interest rates. (The 1990 tax increases and post-Cold War defense cuts were probably counterproductive.) In many ways, that episode was a dress rehearsal for the recent crisis, so it makes sense that some of the most interesting writings about the dangers of excessive private borrowing come from that earlier time.
It didn't take long for the next boom and bust cycle to hit. In the second half of the 1990s, the irrational exuberance of stock investors fueled a binge of business spending. Real nonresidential private investment increased at an annualized rate of more than 12 percent between the beginning of 1996 and the middle of 2000. That changed once firms realized that they had been wasting their money on bad investments and unneeded capacity. Capital expenditures plummeted by nearly 20 percent between the middle of 2000 and the end of 2001. Real business investment didn't return to its pre-recession level until the beginning of 2005.
The massive swing in capital spending plunged the economy into recession and held back the recovery for years. According to the Census Bureau's Current Population Survey, real median incomes (for individuals, not households) increased at an annualized rate of just 0.2 percent from 2001 through 2007. More Americans were working in the private sector in December, 2000, than in May, 2005. Since the population of prime-age workers was expanding throughout this period, the actual damage was even worse. Again, this was in spite of the fact that real interest rates were very low for a long time and in spite of the large tax cuts and spending increases of the early 2000s.
... One might think that the Fed has learned something from this experience. A recent speech from Nayarana Kocherlakota, the president of the Minneapolis Federal Reserve Bank, suggests otherwise. He said that the Fed "will only be able to achieve its congressionally mandated objectives by following policies that result in signs of financial market instability."
According to Kocherlakota, the Fed is incapable of lowering the unemployment rate without creating more bubbles. This attitude is strange; Kocherlakota implicitly denies the possibility that the economy could ever grow at a healthy pace without the stimulus provided by unsustainable asset bubbles. More precisely, he said that the Fed needed real interest rates to be "unusually low for a considerable period of time" and that this would lead to "unusual financial market outcomes" including "inflated asset prices, high asset return volatility and heightened merger activity." Surely there must be a better way.
... Kocherlakota expects real rates to be "unusually low" for "the next five to 10 years." ... There is a word for people who do the same thing over and over again, expecting different results: insane. Let's hope that they don't constitute a majority of the Fed's voting members, or we will once again be doomed to another destructive and pointless cycle of boom and bust.
This last statement is where we finally admit the article does not fulfill its initial promise. The author admirably catalogues the Fed's sins throughout the modern era but stops short of the logical conclusion that Fed policies have obviously been massively destructive.
Instead, the article concludes with the observation that the Fed ought not to keep rates low for the next five to ten years because the result will be another "destructive and pointless cycle of boom and bust."
What is it that we are missing here? Of course, the Fed will set off another destructive boom and bust cycle. In fact, it's already a given.
The trouble with central banking is that it simply doesn't yield up rational conclusions. It resists analysis because anyone analyzing it can only come up with the conclusion that the Fed and central banks generally cannot logically fulfill any of their stated functions.
The logical conclusion to this article would be that the Fed in particular ought to be shut down, given the economic havoc it's already wreaked. That this option is so obviously precluded by the statist status quo provides commentators like this one with a kind of cognitive dissonance. The logic is clear but they cannot follow it.
This inability to have a rational conversation about monetary policy is the biggest reason monetary disasters will no doubt continue, just as this article predicts.