This is the "American dream" the Fed has given us: work more jobs and longer hours to keep paying those bills that are now growing at 8 percent per year.
The idea of defamation as a punishable legal matter is based on the notion that people do not have free will and are not responsible for their own actions.
Turkey's economy is reeling under inflation rates likely reaching 170 percent. Not surprisingly, the worst of it is felt by regular people just trying to make a living.
The standard line is that the Federal Reserve System has two mandates, keep unemployment low and create price stability. Mark Thornton notes that the real agenda is found elsewhere.
Progressives are fond of telling us that we are under a "social contract" with the government, in effect justifying whatever abuses authorities inflict. Putting up with massive inflation is the latest iteration of this so-called contract.
Radical Charles Dunoyer wanted "the municipalization of the world" by which states would be broken up and forced to compete both with the private sector and with countless other states.
The Fed's entire "strategy" can be summed up as "hike 'til it breaks, cut 'til it inflates." That's the best all those PhDs at the Fed have managed to come up with.
