U.S. Economy

Dr. Mark Thornton on The Scott Horton Show. 

My neighbor Sam is deeply in debt. But, he tells me that he owes all that money "to himself," so he thinks it's not a problem. I think he's in deeper trouble than he thinks.

American history is a story of non-stop efforts by governments to intervene in the marketplace through regulations, monopolies, and subsidies. Most surprisingly, these market interventions appear to place a central role in causing economic crises over the years.

The 20th century was the progressive century, marked by the rise of war and socialism as entrenched features of American life. But perhaps the most lasting effects will be felt in the entitlement mindset woven into the American psyche via decades of successful incrementalism.

Why, with interest rates historically low, are businesses not investing in the much predicted boom? Could it be business owners know more than the central bankers?

Cesar Chavez wanted immigration controls to hep him prop up union-labor wages.

NIRP will fail miserably, in part because they signal that the central banks are out of options and the economic system is in terminal decline.

CNN asks today: "What would a president Trump mean for the Fed?"

Robert Luddy explains today at The American Spectator how the Fed's fixation on promoting price inflation is a big problem.

Whether we're talking about central banks or the US Supreme Court, governments everywhere continue to centralize power in the hands of the very few. The problem with this, though, is that successful central planning is impossible and leads to economic chaos.