A dirty secret of congressional military spending is that when the government allocates billions in spending, unnecessary, wasteful, and parochial interests quickly find their way into the legislation.
The German "stimulus" package does nothing to actually stimulate true economic growth. If German policymakers were smart, they'd be cutting taxes and spending, while abolishing regulations.
The German "stimulus" package does nothing to actually stimulate true economic growth. If German policymakers were smart, they'd be cutting taxes and spending, while abolishing regulations.
We're now seeing an economic system where both supply and demand depend on government subsidies, handouts, and monetary schemes. This isn't a market economy.
The problem of the European Union has never been a lack of monetary and fiscal stimulus, but rather an excess of these. This has failed to produce real growth, and now we're getting more of the same, but even bigger.
The oil industry became one of the main areas of malinvestment in the years of massive liquidity and low yields. This perpetuated excess capacity and kept inefficient companies unnecessarily alive.
Central bankers are panicking, and their solutions range from "buy everything that moves" to pushing interest rates even further into negative territory. Yet this doesn't seem to be helping much.
Michael Milken was a threat to the complacent Wall Street cartels established by the New Deal. So ambitious prosecutors like Rudy Giuliani saw an opportunity to get in good with Wall Street by taking him down.
So long as governments exist, it is essential that we minimize the ability of groups and individuals to use the power of the state to enrich themselves.
