If one were looking for clues as to why the stock market has rebounded while daily economic news grows worse, besides the Federal Reserve's Jerome Powell's "flooding of the market" with liquidity, another reason could be the flood of new punters betting on stocks, from high-flying tech shares to dead-in-the-water leisure stocks.
Executive orders are inherently suspect and generally bad, not simply because of (at this point laughable) constitutional concerns, but because they establish another layer of de facto "laws" for which you and I have little legal recourse.
Federal Reserve operatives deliberately use vague and confusing language to mask the fact that their own policies are in fact vague, imprecise, and based on wishful thinking.
Of course, anyone who deals in interacting with the real world (i.e., not lifelong bureaucrats like Fauci, who needs not exhibit any actual competence to collect his $400,000 paycheck) understands that preserving and augmenting wealth is key in enhancing health and life.
Some county governments in Colorado have made it clear that they don't intend to adhere to the governor's ongoing edicts requiring business closures and mandating social distancing. And it's unclear that the governor is willing to burn the political capital to force county governments to do so.
Extraordinary claims require extraordinary evidence. The prolockdown crowd has been making extraordinary claims. Meanwhile, they have produced little evidence to support their claims.
We received a new donation from Mr. Carl Watner entitled The Voluntaryist Collection.
Oliver E. Williamson, 2009 Nobel Laureate and founder of "transaction cost economics," has died at age 87. Here is a short piece I wrote on Williamson and Austrian economics.
The present COVID-19 pandemic has left public schools scrambling to find ways to dampen the impact on students.
The first round of lockdowns was a sucker punch to unsuspecting Americans. Will it work a second time?
