“I think we have much more of a Fed problem than we have a problem with anyone else”, said US President Donald J. Trump on 20 November 2018. While the press, mainstream economists, and bankers cry wolf, the US President hits the nail on its head: The Fed is the source of significant economic and political trouble. By issuing US dollar out of thin air, it sets into motion unsustainable booms, which sooner or later turn into bust.
At the end of the second World War, filmmaker John Huston got a commission from the US Army to produce a documentary of new treatments for psychiatric casualties of the war. This occurred when experimental treatments such as hypnosis or injections of sodium pentothal were being introduced into psychiatric therapy. The army wanted to produce the film to show off these promising new treatments, rather than to illustrate the psychological trauma of soldiers due to what we now recognize as Post Traumatic Stress Disorder.
This article is excerpted from a talk delivered at the 2018 annual meeting of the Property and Freedom Society.
A big US monetary inflation bang brought the euro into existence. Here’s a prediction: It’s death will occur in response to a different type of US monetary bang — the sudden emergence of a “deflationary interlude.” And this could come sooner than many expect.
Japan’s economy is a lifeless corpse. In the 1990s, Tokyo propped up zombie banks: institutions that are solvent in name only. In the aftermath of the Great Recession, Japan ensured these companies remained open. Today, Prime Minister Shinzo Abe is presiding over a zombie economy, and he thinks he has a solution to inject new life into the rotting carcass: another round of Abenomics!
If economic ignorance among leftists (i.e., liberals and progressives) had no adverse impacts, we could consign it to the ranks of the humorous. Unfortunately, however, such ignorance has very serious adverse consequences, especially on poor people.
I receive near-daily emails from The Nation, the hard-left publication that never acknowledged a communist atrocity nor has recognized any socialist failure. From what I can tell, the editors are downright giddy, as they see socialism in the USA on the rise, with the bookends of the elderly Bernie Sanders on one side and the camera-friendly Alexandria Ocasio-Cortez on the other, both ably promoting socialism to a new generation of people ready to overthrow the alleged chains of capitalism.
Say the wrong things and you might get kicked off of your favorite social media platform.
Tech titans Apple, Facebook, and YouTube have wiped out talk-show host Alex Jones’s social media presence on the Internet. But the social media crusades weren’t over.
According to many mainstream economists, a lack of good correlation between the monetary growth and the growth rate of various price indexes casts doubt on the commonly held view that the key source of inflation is increases in money supply.
It is also argued that before the 1990, the relationship between money supply and inflation was positively correlated. However, from 1990 onwards in the US and other major economies this correlation ceased to exist.
