We're still living with the consequences of the massive monetary inflation by Trump and Biden. Prices are stubbornly high, and falling real wages are driving Americans to say things are getting worse.
We're still living with the consequences of the massive monetary inflation by Trump and Biden. Prices are stubbornly high, and falling real wages are driving Americans to say things are getting worse.
Politicians and the media are blaming businesses for inflation when, in fact, the skyrocketing prices of nearly everything have a government stamp on them.
While the 1979 default was relatively small, the 1934 default affected millions of Americans who had bought Liberty Bonds mistakenly thinking the government would make good on its promises.
Anticapitalist politicians claim intervention can "level the playing field," but when we look closely, we realize that government itself creates the imbalances.
Contrary to the claim that taxpayer subsidies for higher education provide great social benefits, these subsidies actually are a wealth transfer from the less-well-off to wealthy people.
As Murray Rothbard wrote, inflation is not an increase in prices. It is, instead, an increase in the supply of money in circulation. The distinction is important.
