Fed Folly and its Practical Effects

“The… task of economics is to demonstrate to men how little they really know about what they imagine they can design.” –Friedrich von Hayek Adam Smith was the first to name the “the invisible hand” so felicitously, but he was hardly the first to notice the existence of such a phenomenon. The idea of an …

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The Myriad Lives I Lead Inside My Own

Observe the day. Observe how it is spring warm in the middle of winter, the sky unclouded blue, the air full of undefined promise. Observe my daughter’s excitement at the prospect of a birthday party, running with arms flapping, singing for the joy of it, unbridled, unrestrained. Observe how picturesque all the houses look on …

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Saving Bats and Great Fishing Along Spruce Creek

The Western Pennsylvania Conservancy has recently acquired a unique property in northern Huntingdon County that does two unusual things—provides public access for world-class trout fishing on Spruce Creek and helps save struggling bats with desperately needed habitat. In addition to the exceptional fishing, this 13-acre property includes a major limestone cave network that may provide …

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Ageless Wisdom: Patricia Wilde, 90

In part four of this video series, Patricia Wilde, age 90, talks about how she entered the world of ballet and her experiences with the Pittsburgh Ballet Theatre. I was born in the countryside outside of Ottawa, Canada and there were five of us in the family. The first part of the family were all …

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Know when to hold ’em: Le’Veon Bell stares down the Steelers

In poker, a player holding cards that he or she knows cannot be beaten is deemed to have “the nuts.” It’s the best possible position—without question, you cannot lose. You can, however, not win—an opponent may be holding equivalent cards to yours. Both the Steelers’ front office and their star running back Le’Veon Bell find …

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The Red-Tape Fed

The long and deep recession of 1930–33 finally ended in March of 1933. Once it ended, the Fed, believing that the economy could now—and should now—fend for itself, backed off. The result was one of the most powerful economic expansions in U.S. history, an expansion that lasted three decades. The short and shallow recession of …

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The Mysteries of Feral Bees

To make a prairie it takes a clover and one bee, One clover, and a bee, And revery, The revery alone will do, If bees are few. —Emily Dickinson I am a failed beekeeper. I had two hives. One died the first year and the other lasted about five, from which I got beautiful honey, …

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Ageless Wisdom: Carol Brown, 85

In part three of this video series, Carol Brown, age 85, shares thoughts on choosing a profession, living a satisfying life and building the Pittsburgh Cultural Trust. The advice that I give my four grandchildren is spend your life on a profession that you really love, something that you genuinely enjoy. And if it’s something …

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John Robinson Block, Newsman

My twin brother, Allan Block, and I are the third generation in a family business that’s more than 100 years old. My grandfather, Paul Block, was an immigrant from East Prussia, and grew up, through his teens, in Elmira, New York. From age 10, he worked for a newspaper and learned how to sell advertising. …

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The Working Life

Work is a fact of life for nearly 1.2 million southwestern Pennsylvanians. Some love what they do; others, not so much. Either way, work consumes a healthy share of their time and energy. Their weeks are structured around it. It’s what puts money in their pockets. What do Pittsburghers think about their jobs? Pittsburgh Quarterly’s …

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Unemployment Down, Workforce Shrinks

The temperature may be up, but the unemployment rate in the Pittsburgh region keeps dropping, closing the gap separating it from national rate, which it has long hovered above. Year-over-year, the unemployment rate in the seven-county Pittsburgh Metropolitan Statistical Area fell .9 percentage points, from 4.9 percent in July 2017 to 4.0 in July 2018. …

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Twilight Picnic For The Parks Raises $334,000

Twilight Picnic For The Parks, the signature event of the Allegheny County Parks Foundation, celebrated a final blast of summer under a nearly full moon at Hartwood Acres Park Saturday evening. Blue skies greeted more than 400 guests on the lawn of the Hartwood Acres Mansion, who enjoyed a delicious dinner by the big Burrito …

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The Fed’s Act of Cowardice

We are talking about America’s Monetary Keystone Kops, who have, since 1987 (when Greenspan became chair of the Federal Reserve), been masquerading as central bankers. (Or maybe it’s the other way ‘round, it’s hard to tell.) The Fed’s finest hour was saving Bear Stearns while wiping out its equity holders and senior management—that is, the …

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Ageless Wisdom: Betty Lane, 80

In part two of this video series, Betty Lane, age 80, shares her thoughts on life and work from her experiences with the Hill House and community. I am excited about being 80 years old. It allows me to do all the things that maybe I couldn’t do when I was younger. I can take …

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Hits and Hugs: The Evolution of Roller Derby

Cheswick, May 12, 2018: It happens about 10 minutes into the first half of the game between the Steel Hurtin’—the A-team of the Steel City Roller Derby—and the Chattanooga Roller Girls. Three big Chattanooga blockers, arms locked firmly together, are just about to smack Zorra, the tall jammer for the Steel Hurtin’, when she makes …

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The Singing Barista

No one complains when they come into Jitters Café in Shadyside for their frappuccinos and cappuccinos and caffeinated hot/iced whatevers and barista Liz starts singing. Deas Vail, Mew, Jon Bellion, Issues…artists with melodic vocals that she can harmonize with while she’s working behind the counter, pouring things like Lavender White Mochas and Gingerbread Chai Lattes …

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Riverlife’s Party at the Pier Raises Over $250,000

The forecast for Friday, August 17 called for nonstop rain, thunder and even hail. That didn’t deter a sold-out crowd of 900 guests from dressing up in their finest Mediterranean-inspired looks and traveling to the North Shore’s Rivers Casino for Riverlife’s annual fundraiser Party at the Pier. The popular event, now in its ninth year, …

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Bernanke’s Blunders

We’ve assessed the successes and failures of central bankers in the 1930s. Now let’s turn our attention to their modern counterparts. I will argue that, unlike the earlier central bankers, whose record was mixed but a net positive, our modern central bankers have done almost everything wrong—and for 30 years running. To wit: Like the …

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Car Cathedral

Since its completion in 1931, the towering stone St. Helen’s Catholic Church has stood like a beacon atop Main Street in East Pittsburgh. Now it’s a car club and garage with country club perks. Diocese of Pittsburgh’s Bishop David Zubik announced the permanent closure of the church—vacant for four years—along with others in March 2014.“Though …

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Montgomery, Macino, Vento, Capretto, Marcu, Widdoes, Luderowski

Ruth Mitchell Montgomery, 101: Five years after she and her husband moved to Pittsburgh for a job with the University of Pittsburgh in 1956, Montgomery started the effort to create the Pittsburgh Chamber Music Society (now Chamber Music Pittsburgh), attracting the philanthropic support to make the dream a reality. For many years she ran the …

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Ageless Wisdom: Jim Roddey, 85

In part one of this video series, Jim Roddey, age 85, discusses his contributions to Pittsburgh as a businessman and first Allegheny County Executive. My wife and I came to Pittsburgh to buy a company. We had promised to stay five years, but we’ve ended up being here almost 40. My advice to Pittsburghers is …

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Pursuing Crime from Pittsburgh to Eternity and Back

“The Gone World” by Pittsburgh novelist Thomas Sweterlitsch is about nothing less than preventing the end of world as we know it. As is often the case in real life,Western Pennsylvania is at the center of the story. Key events take place in faraway realms. Covert U.S. military forces zip there via time travel, untold …

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