Robert Mugabe, once president for life of Zimbabwe, became infamous for hyperinflation and political repression. Today, he is becoming the patron saint of central banking.
The standard narrative around current bank failures is that they occur because of a lack of regulation. Credit Suisse was heavily-regulated; that was the problem.
The only thing that saves citizens from much higher prices is the fact that the transmission mechanism of monetary policy is independent and diversified. Imagine if that transmission was direct and had only one channel, the central bank itself.
It is easy to dismiss Chinese advancements in electric vehicles as the result of government subsidies, but private entrepreneurship also is playing a major role.
