Here is an often-used tactic employed to defend government police organizations from criticism. Whenever critics point out police incompetence or abuse, defenders counter with ”The next time you need help, call a crackhead!” This same phrase was used by Louisiana senator John Kennedy when singing the praises of uniformed government bureaucrats in 2021.

Central bank “stimulus” is a nonsensical policy approach which caused prices to surge over the last two years. Look at the charts below:

The Fed’s balance sheet is currently at $8.9 trillion:

Cause of the Boom-Bust Business Cycle

The primary cause of the recurring “boom and bust” business cycle is central banks like the Federal Reserve creating money out of thin air. This was first explained by Austrian economist Ludwig von Mises over a century ago. His student F.A. Hayek won the 1974 Nobel Prize in economics for his work on this theory, which is now known as Austrian business cycle theory.

The basic outline of Austrian business cycle theory is as follows:

Milton Friedman (1963) argued that “inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” Nevertheless, in the last decades, the strong growth of money supply in many industrial countries was not matched by a respective increase in officially measured price levels.