If and when this inflation proves to not be “transitory”, but rather a long-lasting consequence of large amounts of money being created at the same time production in many industries was slowed, halted, or redirected by government fiat, it will be far too late for any sort of NGDP targeting.
An important milestone has recently been passed. To be exact, the latest Fed balance sheet update on June 17, 2021, shows the figure at $8.064 trillion.
The goal of public comments from Federal Reserve officials is to convince the public that there is nothing to fear. The experts have things covered. Inflation is temporary. Growth is coming. All is well—no matter the economic struggles you yourself may be feeling.
The key to success is spreading the ideas of liberty until we have the ability to force the politicians to dismantle the welfare-warfare state and the fiat money system that is the lifeblood of authoritarian government.
We’ve all heard about the newest insult to our lives and our children.
This “smooth functioning” market explanation endorses the same proverbial green-light to all central bank interventions. If it wasn’t for the Fed, markets wouldn’t function properly, or at least that is the basis for all inflationist policies put forward by the Fed.
Voluntaryism. It is an awkward term. Yet that was what political philosopher Auberon Herbert called the only social arrangement that respected people’s self-ownership.
Historians still ponder why, despite its dominance in prior centuries, China failed to industrialize before Europe.
Societies are more prosperous when citizens produce and innovate without government intervention.
Frank Buckley, a professor at Scalia Law School, thinks we should take secession seriously.
