Princeton “historian” Allen C. Guelzo’s newest hagiography of Abraham Lincoln focuses on Lincoln’s supposed love affair with commerce, albeit “commerce” based upon protectionism and government tariffs. As David Gordon notes, Guelzo has a problem getting his economic history correct.
2023 proved that central banks’ policy was restrictive in name only. Policy was restrictive only for the private sector, especially small and medium enterprises, and families. Policy was not for governments.
Year over year, the drop in money supply remains at Great Depression levels. Over the past six months, though, the total money supply has flattened, suggesting the liquidity is far more plentiful than the inflation doves would have us believe.
The regime would have you believe there is an inexhaustible fund somewhere which we can live off of indefinitely, and which can be squeezed forever. This attitude leads only to inflation, impoverishment, and a decline in the standard of living.