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.
In 1991, India's political leaders moved away from socialism, embracing markets and improving the economy. But Indian elites continue to push socialism to the detriment of the people.
Three years after the covid virus hit the world, we are just starting to take a hard look at the damage caused by the covid restrictions. The "experts" not only were wrong; they were scandalously wrong.
Progressives like to claim that "America" has a "gun violence problem." However, the "gun violence problem" happens to exist in places where progressives dominate the government.
The only reason central banks buy gold is to protect their balance sheets from their own monetary destruction programs; they have no choice but to do so.
What at first seem like gifts from the state (handouts for some at the expense of others) lead to unfortunate events that cannot be stopped once begun.
Central bankers follow inflation "target" in their pursuit of "price stability." Not surprisingly, they usually miss their targets -- quite badly -- and we now are living one of those moments.
