While Bitcoin and other cryptocurrencies can boggle the mind with their complex relationships, nonetheless, we are witnessing the development of a parallel economy that has sprung up in the wake of harmful government intervention.
Harris promises to reduce prices by printing more money, reducing competition, and attacking businesses. Welcome to the US version of Argentina's “Peronism.”
While we experience the predictable economic consequences of bad economic policies, the two main presidential candidates seem to be competing in an unspoken contest to demonstrate profound economic illiteracy. Unfortunately, whoever wins in this contest, we lose.
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.
While Bitcoin and other cryptocurrencies can boggle the mind with their complex relationships, nonetheless, we are witnessing the development of a parallel economy that has sprung up in the wake of harmful government intervention.
Price inflation is never caused by greed. It's always caused by a growing money supply. The money supply has grown big-time since 2020, and now we pay a lot more for food and housing.
After years of relentless monetary inflation, the Fed can't fix our present inflationary malaise. The only long-term solution is sound money.
Neither the Trump nor the Harris proposals indicate they have any idea of how to deal with stagflation. Instead, they call for more government intervention—Trump for tariffs and Harris for more individual and business taxes and for energy policies. Woe be to us!
By appealing to tariffs and other forms of economic regulation, Republicans have tossed aside any commitment to free market economics. Unfortunately, their program will lead to more economic stagnation, inflation, and runaway government spending.
With the US government engaged in out-of-control spending, we are looking at tax increases in the coming years. And even if Congress does not pass official tax hikes, we will see the government seizing wealth via inflation.
