The Fed

These increases may not show up in the price of US financial assets, but they will rear their ugly heads at the gas pump and grocery checkout.

Economic theory suggests that unaccountable, legally protected monopolies are inefficient.

"We don't know how many jobs have been lost because of the ones that have theoretically been saved or created."

Politicians, bureaucrats, regulators, modern financial commentators, Nobel Prize–winning economists and central bankers have proven they lack any knowledge of what money is and what causes business cycles.

"Good government" seems to involve reckless spending by Washington, endless printing at the Fed, and bailout after bailout.

Let us send a delegation to Hades to resurrect Ludwig von Mises, Thomas Jefferson, John Locke, and Aristotle to replace the corrupt, debased politicians we now have.

Washington should be lowering taxes and the costs of hiring employees, especially in industries that produce capital and wealth.

"Real GDP has nothing to do with the real world."

In the case of the current housing meltdown, the Austrian case is definitely right.

Popular rhetoric notwithstanding, government cannot be run like a business.