Vigilant Investor

Tonight on Vigilant Investor Live (every Wed, 9:00 p.m. ET) we’ll bracket our pre-recorded conversation with Robert Blumen with fresh observations and discussion, listeners included.

Our discussion with Mr. Blumen, an Austrian School of Economics essayist, covers a recent piece of his digesting a June 2006 proposal from former Treasury Secretary, Lawrence Summers, encouraging the world’s central banks to diversify their massive reserves into more lucrative investments in the stock market. Mr. Blumen not only explains why such “investment” by central planners is extremely disruptive to a healthy economy, but also that those objections have been warned by proponents of the Austrian School of Economics for over 80 years. (Simply, they are too inconvenient in that they do not justify government meddling in markets, period!)

For those interested, the pieces referenced in the discussion are as follows:

• Blumen: Will Central Bankers Become Central Planners?
• Mises: Economic Calculation in the Socialist Commonwealth

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