In order to remove the threat of secular stagnation what is required is to shrink government outlays and to close all the loopholes for the creation of money out of thin air.
Monetary affairs have always been subject to government intervention of one kind or another, but there is no reason money could not be produced and regulated in a free marketplace.
If the small sample size of monetary history is any guide, the combination of asset market crashes and high goods inflation empowers sound money forces in the political arena. At the moment, neither of those factors are in play.
The US's enthusiasm for sanctions means Europe is learning the price of doing business with the United States and with the dollar. They're now developing new ways to work around the the US-dominated financial system.
Even if the central bank policymakers could implement policies without error, Milton Friedman’s and Robert Lucas’s monetary schemes could not secure stable economic growth.
The mainstream National Bureau of Economic Research definition of recessions is of little value. Real saving, not consumer demand, is the real driver behind economic growth.
As money loses its purchasing power, income and wealth are stealthily redistributed. Some individuals and groups of people are enriched at the expense of others.
Our monetary system, combined with interventionist state policies, causes mass overconsumption, the destruction of wealth, capital consumption, and the destruction of nature.
