Inflation

The Continentals and other paper monies only temporarily retained some value largely because of an initial promise of future redemption in gold and silver—a monetary “bait-and-switch.”

Financial bubbles, which used to be rare, have become a way of life, thanks to a quarter century of easy money policies from the Federal Reserve System. We need to better understand how bubbles form and why they are so harmful.

The modern western society is built upon the welfare state, yet it is that very welfare state that is undermining the social fabric. It is time to recognize the damage the welfare state is doing and put a stop to it.

Instead of market competition, inflation forces young and old into rivalrous competition for housing.

Instead of market competition, inflation forces young and old into rivalrous competition for housing.

The so-called K-shaped economy—where some experience positive growth and others negative growth—is perfectly explained by Austrian business cycle theory and the Cantillon effect.

On the economy, Trump gives himself a grade of “A+++++,” which is reminiscent of Hoover and other politicians who interpreted their economic failures as successes.

While the jury still is out regarding Javier Milei’s economic “reforms” in Argentina, one must remember that economic intervention in that country is thoroughly entrenched in political and economic life there.

Mainstream economists are at a loss to explain why the current regime of inflation and central bank interventions have been so economically devastating. Understanding Cantillon effects is vital to making sense of the current madness.

Inflation does more than just force up prices. It destroys the wealth-producing process, especially with young people who are prevented from acquiring the same kinds of assets earlier generations procured. The result is inter-generational conflict.