And Now for a Really Bad Response to Political Calamity: Autarky
The world is in chaos, so politicians MUST do something. Hence, they demand autarky, which is like attempting to put out a fire by pouring gasoline on it.
The world is in chaos, so politicians MUST do something. Hence, they demand autarky, which is like attempting to put out a fire by pouring gasoline on it.
The Biden administration in its desire to "save" the planet from climate change has decided to destroy one of this country's most productive and important industries in the process, putting the US economy itself in jeopardy.
The usual "experts" claim inflation is a general increase in the price level. Wrong. Prices rise because of inflation, which is a government-caused increase in the amount of money in circulation.
Advocates of modern monetary theory promise a cornucopia of goods and jobs if only the government has the "courage" to print money at will. Sound economic analysis, however, exposes MMT as fraudulent.
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News From the Mises Institute
The Fed's unprecedented monetary expansion has created damage that it cannot undo by switching directions.
Central banks, and especially the Federal Reserve System, continue to churn up inflation and the boom-and-bust cycles—in the name of "stabilizing" the economy.
Rothbard the historian explained so well how the true progressive goal was always to remake America domestically by promoting war.
The standard bureaucratic line after a program's failure is that the government agents didn't have enough authority or resources to handle the job. Neither explains the failure of Trump's Paycheck Protection Program.
While the usual characters praise central banks for supposedly bringing economic stability, Dr. Shostak explains that their presence makes things unstable because they break the relationship between saving and lending.