Inflation targets are part and parcel of central banking policy, the Fed’s mandate centering around the 2 percent inflation target. But when was the last time anyone asked why a 2 percent inflation target?
Since before covid-19 and the lockdown, I have written articles that touch on the purpose and importance of personal savings, and more importantly, why the lack of personal savings was going to make an economic crisis in the year 2020 potentially tragic for most Americans.
Listen to the Audio Mises Wire version of this article.
The September 11, 2001, terror attacks shocked the world, leaving ramifications still felt nineteen years later. Few are familiar with the Republic’s first 9/11 tragedy, September 11, 1789, the day Alexander Hamilton was appointed secretary of the Treasury.
The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy
By Stephanie Kelton
New York, 2020
325 pages
Stephanie Kelton’s new book has attracted much attention, and Bob Murphy and Jeff Deist have already reviewed it, with devastating results. Why another review? The policies proposed in the book are so pernicious that further exposure of what she has in store for us is needed, and I have some new points to offer for your consideration. Besides, there are few things I enjoy more than writing a critical review.
Julian Assange’s heroic but tragic life is coming to a head in the next weeks. A British court shall soon rule whether Assange, ostensibly a publisher and journalist, shall be extradited to the United States to be charged with espionage.
A mantra popularized by Bernie Sanders and like-minded progressives declares “billionaires should not exist.”
The statement serves as both a declaration of the “immorality” of wealth inequality as well as a justification for steep confiscatory taxes on wealth favored by the likes of Sanders and Elizabeth Warren.
If 2020 has taught us anything, it’s that police throughout the Western world will not hesitate to forcefully impose arbitrary and absurd government regulations.
