Central banks are faced with the devil’s alternative created by their own policy. Either let inflation run and create a stagflation problem or scare the markets by tapering.
China is a rapidly aging, inefficient, conflict-ridden, and relatively poor country that simply is not on the road to seriously challenging the US’s hegemony.
Mises warned that “there is not such a thing as a scientific ought. Science is competent to establish what is. It can never dictate what ought to be and what ends people should aim at.”
China is a lesson for those in the West that see China’s rising interventionism as a good idea. Political interventionism means bad capital allocation, worse job creation, and the worst type of inequality, the one that is politically driven.
It wasn’t "fascism" or "Russia" that normalized lockdowns, mandates, and massive whirlwind profits to politically connected cronies in the West—it was the alleged defenders of "liberal democracy."
All the propaganda that whitewashes the Cuban dictatorship is based on two lies: the nonexistent “blockade” and the allegedly excellent “public health.”
