Philadelphia Reflections

The musings of a physician who has served the community for over six decades

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Keynes vs. Milton Friedman: Not Much Difference

FEDERAL RESERVE, BOND MARKETS, AND THE ECONOMY--How to control them.

INFLATION BUST

MARKETS and ECONOMIES

INFLATION BUST

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Ratio of Stocks to Bonds

Monetarism {Friedman}===========[periods of relative stability}================Keynseanism {Phillips Curve}==========================

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Stocks drop

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Sell bonds stagflation

Discourage hiring.

Sell bonds, buy stocks

Buy stocks Make hiring expensive.

============================={Crash}=====================Sell stocks, bonds when you can===>

Buy and sell lots of them. =============

Originally published: Monday, February 04, 2019; most-recently modified: Wednesday, May 22, 2019