Greg Kaza reviews Ben Bernanke's 21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19. The book is a candid yet self-justifying defense of the Federal Reserve's monetary policy that refuses to acknowledge how stimulus has driven inflation.
The goalposts are continually changing (more like fallacy-hopping), but one would-be goal of tariffs needs to be confronted—tariffs for domestic job protection.
Following World War II, Congress imposed mandates on the Federal Reserve in the areas of employment, inflation, and interest rates. Not surprisingly, the Fed has failed in all three areas. It is time to recognize failure and abolish the Fed altogether.
When politicians claim they are “creating jobs,” they usually mean hiring people for tax-funded government employment. Jobs in private enterprise, however, help to create real wealth and contribute to economic growth and higher living standards.
The goalposts are continually changing (more like fallacy-hopping), but one would-be goal of tariffs needs to be confronted—tariffs for domestic job protection.
Tariff supporters claim that implementing tariffs will result in new jobs at home. What they fail to point out is that many people depend upon imports for work. The tariffs on Canadian aluminum imports are a case in point.
David Gordon revisits Richard Weaver‘s 1948 classic Ideas Have Consequences and finds that this volume has much to tell us today. This review takes us through Weaver‘s views on property rights and the welfare state, and he found the latter wanting.
GDP is a ridiculous way to gauge the strength of the economy. While prices on Wall Street remain robust, trouble lurks on Main Street.
The last time China hit a recession, in 2008, Beijing dumped massive stimulus into the economy. This time, China's debt — over $50 trillion — has grown to the point it can't afford it.
Mainstream economists speak of GDP as though it is the economy itself, however, GDP is not a good measure of economic reality. Instead, it presents a distorted picture of genuine economic activity and leads to mistaken conclusions about the economy.
