Intermediate

Paying off the debt obviously won't happen, and the feds won't even contemplate anything that keeps the debt from getting bigger. They'll just try to inflate the debt away, so get ready for price inflation. 

"Government" and "state" are terms typically used synonymously these days. But good governance and good law do not require the presence of the state and its monopoly power. 

While economists speak of GDP as a legitimate measure of the economy, a closer look tells us that it is biased toward consumer spending and fails to give a true measure of the value of capital.

In 2022, Michigan Gov. Gretchen Whitmer used political favors and government grants to maneuver thousands of workers into jobs producing electric trucks. But consumers aren’t interested.

Some economists believe that the balance of payments is what determines currency exchange rates. In fact, exchange rates are always about the purchasing power of some currencies relative to others.

The “One-China” policy assumes Taiwan to be a runaway province. The people of Taiwan, however, see their country as sovereign, and their reasons have merit.

While South Africa’s political authorities pursue genocide accusations against other countries, those same leaders are destroying the nation’s economy and basic infrastructure. This is a failed state.

As the US banking system becomes increasingly unstable, the calls proliferate for even more government intervention into banking and finance. People forget that it was government intervention in the first place that caused these crises.

Javier Milei is trying to undo the damage created by nearly a century of socialism in Argentina. Mises, Rothbard, and Hayek were good teachers.

In a recent statement, the Federal Reserve declared that US banks are "sound and resilient," but a lot of markets, including real estate, testify to a very different situation.