Medical Mask Resellers Punished in Canada
Recently here in Vancouver, Canada, medical mask resellers were punished by authorities, with their inventory seized and fines imposed. This is the second time resellers have been punished in recent weeks. This action is the exact opposite of what the government should do if it wants to see an increase in supply of medical masks to people who need them.
The Fed’s New Asset-Buying Programs: Nationalization of Financial Markets?
That central banks are distorting markets is no longer a surprise to anyone. But the current pandemic succeeded in what the financial crisis of 2008 failed to achieve, namely to put the Federal Reserve’s balance sheet under political control. The Federal Reserve aims to intervene in financial markets to limit losses caused by the coronavirus pandemic, but the collateral risks of such a decision outweigh the benefits pursued.
Americans Have No Savings. Thank (in Part) the Fed.
Two weeks ago, during a March 17 address to the nation in response to the COVID-19 outbreak, President Donald Trump asked that Americans work from home, postpone unnecessary travel, and limit social gatherings to no more than 10 people.
And last week, on March 27, Trump signed a stimulus package of over $2 trillion dollars to provide relief to an economy on the precipice of collapse.
The aid package includes handouts and loans to individuals, small businesses, and other distressed industries.
How Government Makes a Pandemic More Deadly
In the early days of the outbreak, pundits rushed to the ramparts of Twitter to proclaim that “there are no libertarians in a pandemic.” However, this glee at the apparent failure of markets was soon dashed as more evidence accumulated showing that government intervention was actually the main impediment to success. From an economic standpoint, the channels by which government failure accumulated were legion:
Why This Bubble Economy Keeps Going and Going
Human Action Part Four with Dr. Mark Thornton
Mayor “Kane” Questions Lockdown after “Utterly Shocking” Suicide Spike
Knox County mayor Glenn Jacobs, known worldwide as Kane, recorded a heartfelt video message for his constituents after eight of them committed suicide within forty-eight hours. His sober take on the human cost of the COVID-19 lockdown is too rare in today’s politics.
The coronavirus crisis and the government’s response are not going away anytime soon. Every day that is becoming clearer.
