Where Is the US Economy Heading?

Economists are currently divided on the issue of how strong the US economic recovery is going to be. Some are of the view that as a result of the stimulus policies of the Fed and the Federal government, the recovery is going to be quite strong. Some others are more pessimistic given still-rising unemployment, which they believe will keep consumer spending subdued. In October the unemployment rate jumped to 10.2% from 9.8% in the previous month and 6.6% in October last year.

Most economists assess the so-called economy in terms of gross domestic product, or GDP.

The Law of Unintended Consequences

The law of unintended consequences surely isn’t universal. Government often seeks to destroy things and truly does succeed in doing just that (alternative medicine, unlicensed professionals, and the like). What it taxes in order to punish, it truly does punish (cigarettes, alcohol, imports that compete with powerful domestic industries). What it regulates to ban, it does often succeed in eventually banning (large-bowl toilets, insecticides that work, effective medicines that the FDA judges too dangerous).

The Roots of Messianic Communism

Anabaptist communism did not spring out of thin air at the advent of the Reformation. Its roots can be traced back to an extraordinarily influential late twelfth century Italian mystic, Joachim of Fiore (1145–1202). Joachim was an abbot and hermit in Calabria, in southern Italy. It was Joachim who launched the idea that hidden in the Bible for those who had the wit to see were prophecies foretelling world history.