Cronyism and Corporatism

Biden has embraced the trade war. But, if protectionism actually produced competitiveness, American steel manufacturers would have become world leaders long ago. 

Although fractional reserve banking is the most popular model for banking, it is fraudulent at its core, something the Austrians have noted for many years.

While “colorblind equality” has a better ring to it than the DEI regime, nonetheless, the concept is unworkable and actually contributes to worsening racial outcomes. 

While politicians and bureaucrats always claim to work in the "public interest," the rewards they gain for making bad economic decisions are more important to them than any satisfaction they get from supposedly "serving the people."

“The public be damned” is a statement by railroad magnate William Henry Vanderbilt that has been twisted out of context. While the American ruling classes insist that private enterprise is the enemy of the people, it really is our government that bears that distinction.

When the government wants to make something more affordable, that usually means new subsidies, laws, and regulations that drive up the real price. Higher medical prices will mean more medical bankruptcies.

California’s draconian fast-food minimum wage law is bad enough, but it turns out a company can avoid the trouble if it has ties to the governor.

Contrary to popular opinion, bank capital is not a reserve to cover potential losses. In fact, even the ill-fated Silicon Valley Bank had adequate bank capital before it collapsed.

Despite court rulings, Biden is trying to do end runs around the law in an attempt to buy votes with his student loan cancellation schemes. His actions, not surprisingly, are illegal, but don’t expect any arrests.

Although fractional reserve banking is the most popular model for banking, it is fraudulent at its core, something the Austrians have noted for many years.