Twenty-six years ago, the debate was over whether or not the target inflation rate should be raised from zero to 2 percent. Now we're being told it should be 4 or 6 percent.
Money laundering is illegal in the USA, but like so many other federal crimes, it is difficult to identify and define. That is the perfect recipe for government abuse of innocent people.
Investors should not care whether the Fed pivots or not if they analyze investment opportunities based on fundamentals and not on monetary laughing gas.
John Maynard Keynes derided gold-based money as a "barbarous relic," yet it was gold that enabled a long regime of honest money -- and the advance of civilization.
Critics of capitalism claim that it is responsible for creating inequality in society. Yet the precapitalist societies enforced inequality in a rigid social structure.
For nearly two decades, business, academic, and political elites have spread the fiction that central banks can engineer prosperity by printing more money. Markets now are discrediting that fairy tale.
