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Booms and BustsThe FedMoney and Banks
No matter the situation, bank CEOs believe that the Big Score is just around the corner. Then reality hits.
Booms and BustsPoliticsU.S. EconomyBusiness Cycles
While unemployment currently is low and the rate of inflation has fallen somewhat, Bidenomics is setting off a boom that is unsustainable. We know what happens next.
Big GovernmentThe Police StateU.S. History
After governments create crises, they use those crises to seize new powers. After the crisis subsides, governments give up some, but not all, of their new authority, which we call the ratchet effect.
Big GovernmentThe FedInflationTaxes and SpendingU.S. Economy
Governments do two things: they grow and they deprive citizens of their wealth. That process has not changed for more than a century in the USA.
The open protocols on the internet would seem to create chaos, but it turns out that they produce the opposite results, encouraging a digital spontaneous order.
EuropeWar and Foreign PolicyWorld History
Like many colonial ventures, Belgium's involvement in the Congo had some successes—and many failures.
Economic PolicyProgressivismSocialismU.S. Economy
President Biden announced recently to much fanfare that his administration will transform the US economy through central planning. This does not end well.
Booms and BustsThe FedInflationMoney and BanksMoney and Banking
How can a bank “create money out of thin air”? We must enter the magical kingdom of “fractional-reserve banking,” where deposits are turned into loans, loans are turned into money, and so on, to find out.