Once in a great while, a book appears that both embodies and dramatically extends centuries of accumulated wisdom in a particular discipline, and, at the same time, radically challenges the intellectual and political consensus of the day.
The job market is still hanging on—but not nearly as well as the headline numbers and media pundits would have you believe.
Central banks never act preemptively. If they end up cutting rates by 150 basis points, it will be because the slowdown in the economy is severe. If you believe in a soft landing, you should not expect six rate cuts.
Markets are preparing for the Federal Reserve to “pivot”; that is, change directions from raising interest rates to cutting them. What does it mean? It means that the Fed’s leadership has learned nothing in the past several years.
If you are libertarian and you question the latest government predations, you, too, are probably considered to be an enemy of the state.
For a long time, banks have sought to keep construction loans “on the books” to collect more interest payments. With a recession looming, these long loans are likely to become delinquent.
The island nation of Jamaica has beautiful beaches but a problem with poverty. Jamaica needs capital and free markets, not more state control of the economy.
In the 1800s, Anglo-Americans took advantage of a de facto open border between Mexico and the United States. Illegal American immigrants streamed into Mexico's northern regions and became the new majority.
While Western attention is on the Israel-Hamas conflict, war quietly rages in Yemen with predictable destruction. Not surprisingly, US interventionism is fueling this fight.
When an economy suffers a recession, some factors of production, such as labor, become unemployed. Keynesians believe that expanding credit and fiat money will bring back full employment. That's not how an economy works.
