At the end of March this year the difference between the yield on the ten-year Treasury bond and the yield on the two-year Treasury bond fell to 0.010 percent from 1.582 percent at the end of March 2021.
How does one make an economic decision when the price of a good is not evident? To any adherent of the Austrian school, this of course is impossible. There is no way to decide whether to purchase something if the only way of knowing the price is after committing. For example, who would fill up their car only to see what the price was at the end? No one. In no aspect of life would this make sense, yet it is the standard in the American healthcare system.
Over a month after Russia invaded Ukraine, the military conflict has remained a regional conflict. While Russia has been able to fortify its claim in eastern Ukraine and has made advances in the south, recent counteroffenses by the Ukrainians have pushed Vladimir Putin’s military away from Kyiv.
In this world, few things can be measured in the trillions. The US national debt, which first hit $1 trillion under President Reagan, is one. During his tenure, the national debt increased from roughly $700 billion to $2 trillion; a percentage increase that, if happened today under President Biden, would be nothing short of calamitous.
