It may not have been created in the lab of a mad scientist, but the euro is still a manufactured, cobbled-together currency made from a number of national monetary units. Indeed, it is the perfect Frankenstein currency.
Contrary to myths of “Fed independence,” the Federal Reserve and the Treasury Department work closely together to keep monetary inflation going nonstop.
Keynesians believe that if there is a bout of inflation, central banks can slowly guide the economy to a “soft landing” which minimizes unemployment and income losses. Such policies, however, only lead to further boom-and-bust scenarios.
A few years ago, the leftist publication The Intercept claimed that inflation only hurts the “one percent,” but is “good” for everyone else. The truth is much different, as the Fed’s inflationary policies have benefited the politically-connected crony class.
Politicians say "greedflation," and profits are what fuels rising prices, but the real culprit is fiat money creation fueled by the central bank.
The recent “housing” plan from the Kamala Harris campaign is being touted in the media as a “solution” for this nation's housing problems. However, the plan, if implemented, will be like trying to quench a fire by pouring gasoline on it.
It may not have been created in the lab of a mad scientist, but the euro is still a manufactured, cobbled-together currency made from a number of national monetary units. Indeed, it is the perfect Frankenstein currency.
A few years ago, the leftist publication The Intercept claimed that inflation only hurts the “one percent,” but is “good” for everyone else. The truth is much different, as the Fed’s inflationary policies have benefited the politically-connected crony class.
Politicians say "greedflation," and profits are what fuels rising prices, but the real culprit is fiat money creation fueled by the central bank.
We are stuck in the middle of the road, far away from full socialism or the unhampered market.
