When people say that “socialism doesn’t work,” what do they mean? To better examine and critique socialism, one should apply the socialists’ framework, which is alone worthy of condemnation.
Ryan and Zach take a look at how the Pentagon is now lobbying for a "national defense industrial strategy."
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.
Princeton “historian” Allen C. Guelzo’s newest hagiography of Abraham Lincoln focuses on Lincoln’s supposed love affair with commerce, albeit “commerce” based upon protectionism and government tariffs. As David Gordon notes, Guelzo has a problem getting his economic history correct.
As the federal government's debt approaches $35 trillion, default one way or another is inevitable. Many US states already have used that method to eliminate their debts.
Ryan and Tho talk with Jane Johnson about why the feds will never pay down the debt.
Social Security is headed for reduced benefits, and no amount of political rhetoric or even tax increases will solve that problem. The numbers do not lie.
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.
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.
Congressional Democrats are trying to intervene in a complex and varied market they know little about but that consumers navigate without need of help. This will not end well.
