Financial Markets

The average American has no memory of the gold standard or even the stagflation of the 1970s. The collective mindset is now the classic “kick the can down the road.”

Central bank policies that rely on ultralow interest rates have been shown to bring economic stagnation. Unfortunately, central bankers don't seem to have any other ideas.

Put simply, if it were not for accommodative monetary policy, these firms would have otherwise shut down by now. Once again, the Fed is refusing to allow the invisible hand to rein in the excess for fear of a liquidity crisis, credit crunch, and worse.

Some claim "the rich" will be fine—or even better off—after the COVID panic destroys the economy for most of us. But there's a problem: the wealthy depend heavily on an economy fueled by the production and consumption of all workers and entrepreneurs.