After an earlier article by Zachary Yost on a call by military “experts” to reinstate the military draft, the authors of the original paper are trying to back off on their original recommendation. But there is no doubt as to what they want the government to do.
Forget the New York Times and other publications that cheerlead for the current regime. Austrian economics spells out the consequences for reckless monetary policies, and those consequences are unavoidable.
The Federal Reserve claims to know the “neutral” rate of interest, as though these things can be known administratively. Either interest rates are set by the market or done by fiat; it cannot be both simultaneously.
Inflation in Turkey today is officially running close to 70 percent, but the Turkish economy seems to be booming. Inflationary booms, however, cannot be sustained.
The German economic powerhouse is slowing, weighed down by its costly green energy policies and a bloated welfare state. Germany's economy needs market reforms, not more state intervention.
China's so-called economic miracle is running into the ground as the reality of central planning becomes increasingly obvious and an economic reckoning looms.
