Since the present monetary system is fundamentally unstable, there cannot be a "correct" money supply growth rate. The present monetary system emerged because money creation was politically necessary to sustain the fractional reserve banking system.
If anything, stakeholder capitalism represents a consumptive worm set to burrow into and hollow out corporations from within, to the degree that the ideology and practice find hosts in corporate bodies.
It should be clear by now that the unbacked paper money system is not only a cause of crises, it is also the central instrument of control for the oligarchic party elites and their supporters.
With the Capitol riots, Biden has his 9/11. Now come the legal assaults against Americans.
If business owners were hoping to catch a break in 2021 after having been completely victimized by government lockdown procedures and left-wing rioting, they may want to brace themselves for more pain as the Biden administration gets going.
Despite the heightened partisan tensions in recent weeks and months, some progressive Democrats are drawing the line at expanding the police state’s powers over political dissidents.
Many say economics must focus on preserving resources for distant future generations. They say climate change is why. That's may seem convincing in the abstract, but we soon learn how hard it is to predict future needs, and to ignore present ones.
The ECB is now turning to a new mechanism by which a bond’s value can be legally reduced by the issuer in times of hardship. The purpose is to allow central banks and governments new ways of ripping off the private sector.
"Jobs programs" never create new wealth. They only redirect wealth and resources from other sectors of the economy. The cost to those other sectors is often very high.
With a sound money, none of these distortions would have been possible: the limitations of the currency itself would have forced an unwinding of excessive risk far before it could become a clash between major hedge funds and Reddit trolls.
