default and money

US States Have a Long History of Defaulting

Blog1 hour ago

As the federal government's debt approaches $35 trillion, default one way or another is inevitable. Many US states already have used that method to eliminate their debts.


Misunderstanding Both Lincoln and Basic Economics

Blog4 hours ago

Princeton “historian” Allen C. Guelzo’s newest hagiography of Abraham Lincoln focuses on Lincoln’s supposed love affair with commerce, albeit “commerce” based upon protectionism and government tariffs. As David Gordon notes, Guelzo has a problem getting his economic history correct.

Hubris Runs Rampant at the Fed

Blog9 hours ago

In a recent interview with 60 Minutes, Fed chairman Jerome Powell gave assurances that the US banking system is sound. Ben Bernanke also claimed almost twenty years ago that real estate markets were not overextended. The hubris must be in the water at the Eccles Building.

Welfare for Migrants Ensures the Border Crisis Will Continue


If it were that easy to close a 1,900-mile border, this country would not be awash in illegal drugs imported from abroad. This is why cutting off migrant subsidies and welfare is a critical step in dealing with immigrant flows. 

Another Reason Why Individual Freedom Is So Much Better than Central Planning


Progressives believe that restricting individual liberty permits better social outcomes. In truth, it is individual liberty that allows societies to function best.

They'll Never Pay Down the National Debt

Ryan and Tho talk with Jane Johnson about why the feds will never pay down the debt.

Do Human Emotions Better Help Us Understand Economic Analysis?


Behavioral economics operates on the assumption that human emotions play an important role in determining economic choices. However, while all of us have emotions, we ultimately use reason to determine what we need to sustain our lives.

The Outrageous Persecution of Julian Assange


As officials feign outrage over the death of Alexei Navalny and the jailing of Evan Gershkovich, the US government tries to imprison a journalist for breaking truly incriminating stories.

The Death of Easy Money Has Been Greatly Exaggerated


Central banks have had the chutzpah to claim credit for slowing down the rise of consumer prices. The truth is they have taken advantage of the supply boost from fading pandemic dislocations to pursue continued monetary inflation.



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