Hunter Lewis

Hunter Lewis is co-founder of Againstcronycapitalism.org and co-founder and former CEO of Cambridge Associates LLC, a global investment firm. He has written ten books on economics and related subjects, including Where Keynes Went Wrong.

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Statues of unemployed men standing in a unemployment line during the Great Depression at the Franklin Delano Roosevelt(FDR) Memorial September 20, 2012 in Washington, DC. During the first four years of FDR's term, nearly one-third of the American people were unemployed. AFP PHOTO / Karen BLEIER (Photo credit should read

James Grant Sets Stick of Dynamite to Bush/Obamanomics

It was a very deep depression, as deep as the one that succeeded in 1929. But in this case, the government did not intervene, and it was over in less than two years. Was this a coincidence? Grant does not think it was. He believes, as this writer does, that present government interventions have deepened our current economic malaise and are retarding a full recovery.

Is Keynes Misunderstood, Maligned By Critics?

Is Keynes Misunderstood, Maligned By Critics?

In a September 11 Bloomberg article, economist Noah Smith claims that John Maynard Keynes, the architect of today’s government economic policies around the world, wasn’t a “socialist” or even a “progressive.” He did not favor “a command economy.” Yes, he

Did the Government Cover Up an Autism/Vaccine Connection?

Did the Government Cover Up an Autism/Vaccine Connection?

For years, parents of autistic children have claimed a link between their children’s condition and vaccines. One vaccine in particular has been mentioned: the MMR (Mumps, Measles, and Rubella), which has a record of side effects, some severe. The Center

Leading Keynesian Economist Uses the 'D' Word

Leading Keynesian Economist Uses the 'D' Word

Most Keynesian economists do not want to admit that we are in another depression. They find the word painful. They find it painful because it contradicts the idea that Keynesian economic ideas have ended depressions forever. It also contradicts the

Senator Elizabeth Warren Speaks Up for Progressivism

Senator Elizabeth Warren Speaks Up for Progressivism

Good for Elizabeth Warren. She’s letting us know where she stands. No oily evasiveness for her, or at least less than usual from politicians. Here are her eleven tenets of today’s progressivism, outlined in a July 18 speech before Netroots

Bloomberg Economist Likes Fed's Rock Bottom Interest Rates

Bloomberg Economist Likes Fed's Rock Bottom Interest Rates

Is he right? In a recent Bloomberg Views piece, mainstream economist Noah Smith accused his critics of having “brain worms” and even “anti-semitic overtones.” He then mischaracterized what these critics, usually referred to as Austrian economists, were saying so that

Bloomberg Op-Ed Compares Austrian Economics to 'Brain-Worms'

Bloomberg Op-Ed Compares Austrian Economics to 'Brain-Worms'

What does it suggest when someone, writing in Bloomberg, calls his critics “9/11 truthers… enslaved by… brain worms?” It suggests that he is very worried. He not only thinks the barbarians are at the gate; he thinks that his cozy

Negative Interest on Private Bank Accounts Coming to the US?

Negative Interest on Private Bank Accounts Coming to the US?

We just reported about how the European Central Bank has instituted negative interest rates for member banks. This could soon spread to the US and also to consumer accounts. If so, you would find money taken out of your bank

European Central Bank Adopts Negative Interest Rates

European Central Bank Adopts Negative Interest Rates

Look for this to spread. For now the negative interest rate of -0.1% will only apply to bank reserves held at the central bank. The stated objective is to persuade the banks to reduce their reserves by lending more.  In

Rand Paul Threatens to Hold Up Fed Board Nominees

Rand Paul Threatens to Hold Up Fed Board Nominees

This will put a useful spotlight on three poor Fed nominations as well as a good bill that is being ignored. Senator Rand Paul (R-KY) has sent a letter to Senate Majority Leader Harry Reid (D-NV) threatening to put a

U.S. Still in a Depression

U.S. Still in a Depression

Does an official 6.3% unemployment rate mean that the economy has finally recovered? No. Whether you call it the Great Recession or the depression it really is, the recovery that supposedly started in June 2009 has not been much of

Will Piketty's 80% Income Taxes and 10% Wealth Tax Fix Our Economy?

Will Piketty's 80% Income Taxes and 10% Wealth Tax Fix Our Economy?

The economist offering this “solution” has been fêted by the Obama White House economic staff, the International Monetary Fund, and by many of the people running world economies today. His ideas are definitely “in play.” Thomas Piketty, the forty-two-year-old French

Inside The Fed–What Janet Yellen Won't Tell You

Inside The Fed–What Janet Yellen Won't Tell You

What is Janet Yellen, new Fed chairman, really worried about? Is it that reported unemployment will stay high, that the economic recovery will never get off the ground, that we will fall back into recession, or that consumer prices will

More High-Stakes Appointments to the Federal Reserve

More High-Stakes Appointments to the Federal Reserve

The Obama administration has repeatedly complained about Republican blocking tactics in the Senate. In this context, it is worth remembering that the Democrats blocked President Bush’s last three nominees to the Federal Reserve Board. The Democrats calculated that a member

Will Washington Take Down Apple–And Why?

Will Washington Take Down Apple–And Why?

The U.S. Department of Justice has not only successfully sued Apple for arguably non-existent anti-trust violations in the e-book market. It has even demanded – and gotten – a court-appointed “monitor” placed inside the company to supervise the company’s pricing

Left Icon Henry Waxman Leaves Tarnished Legacy of Crony Capitalism

Left Icon Henry Waxman Leaves Tarnished Legacy of Crony Capitalism

Henry Waxman, who just announced his retirement after 40 years in Congress, may be the most powerful under-the-radar-screen person in Washington. President Obama calls his fellow Democrat “one of the most accomplished legislators of his or any era.” The Washington

Obama Doubles Down on Destroying the Economy

Obama Doubles Down on Destroying the Economy

Is President Obama really this ignorant of business and economics? Telling American employers to raise their wages sounds innocent enough, but it ceases to be innocent when people lose their jobs as a result. In his State of the Union

Why Doesn't the Federal Reserve Lend Each of Us $10 Million?

Why Doesn't the Federal Reserve Lend Each of Us $10 Million?

Wouldn’t that be a good way to jump start the economy? Sheila Baer, chairman of the Federal Deposit Insurance Corp. during the Crash of 2008, was a lonely voice of sanity at that time. In 2012, she wrote an article

'Time' Sends New Fed Chair Janet Yellen Early Valentine's Card

'Time' Sends New Fed Chair Janet Yellen Early Valentine's Card

And we learn more about the most powerful woman in the world. Janet Yellen has been under wraps for some time. She did not want to give any interviews, since an unguarded remark might endanger Senate confirmation. During Senate hearings,

50th Anniversary of Federal Govt's Failed War on Poverty, Part One

50th Anniversary of Federal Govt's Failed War on Poverty, Part One

Fifty years after President Johnson launched his “War on Poverty,” it is time to stop pretending and start doing something real for the poor. Mitt Romney said during the 2012 presidential campaign: “I’m not concerned about the very poor. We

The Fed's The Big Story, Not The Budget Deal

The Fed's The Big Story, Not The Budget Deal

The real action is coming soon in the Senate when it votes to confirm the new Fed chairman. The budget deal is disappointing, but small beer. It’s just the same, oft-told tale: we’ll cut spending in the future if you’ll

Will the Bull Market End on Wednesday?

Will the Bull Market End on Wednesday?

The Fed’s latest stock market bubble is at risk of blowing up. It could blow up as soon as the Fed’s next meeting this Wednesday, or it could last longer. Either way, it is doomed. Bubbles are inflated when the

Why Are the Medical Insurance Companies Silent?

Why Are the Medical Insurance Companies Silent?

What exactly are they afraid of? John Goodman, the leading medical care analyst in the country, asked this question a few weeks ago. His piece was entitled “None Dare Call It…“. The missing words were economic fascism. Economic fascism, the

Consumer Fraud Alert: Obamacare Exchange Policies

Consumer Fraud Alert: Obamacare Exchange Policies

Consumers should think twice before going online to check out Obamacare. The policies offered are not only sub-standard, you won’t even be able to tell which ones are worse than others. Last week, we pointed out that the new exchange