Rate cut to “stimulate” jobs? Powell: “while the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers.”

The files provide a fresh and often disturbing look at a spy described by historian Jefferson Morley as “a leading architect of America’s strategic relationship with Israel.”

Our corrupt economic system was created by people born decades before the Boomers were adults. The boomers just got lucky in a system that created vast wealth inequality. 

The very definition of socialism: government ownership of the means of production. The US federal government now owns 10% of intel. 

The ostensible purpose of the US war on drugs is to prevent Americans from getting their hands on illicit drugs and ingesting them. Think about that for a moment: The entire drug-war apparatus and the massive militarized drug-war police state exist for the purpose of preventing Americans from possessing and ingesting unapproved substances that they wish to possess and ingest.

I consider that amazing.

Let’s divide American drug consumers into two broad categories: those who are addicted to drugs and those who simply use them because it makes them feel good.

A recent addition to the Quarterly Journal of Austrian Economics:

A recent addition to the Journal of Libertarian Studies:

There are plenty of comments about the death of the US dollar as the world’s reserve currency. These tend to appear when the dollar index declines. However, these “dollar death” reports are greatly exaggerated and fail to answer a simple question: What is the alternative?

If you want to bet on the euro as a global reserve currency ahead of the imposition of the digital euro, which will obliterate all limits to central bank surveillance and excess, be my guest.

Many assume that budget deficits reduce national savings, while a budget surplus contributes to national savings. National savings are defined as the sum of private savings (the after-tax income that households save) and public savings. By generating budget surpluses—not spending all that it receives in taxes—it would appear that the government generates wealth, thereby strengthening the economy’s fundamentals. This argument would be correct if government activities were of a wealth-generating nature. This is, however, not the case.