Thanks to covid shutdowns, declining productivity finally brought price inflation to the fore. But the world's governments have learned nothing and cling to the same inflationist policies.
Mayor Lori Lightfoot chided businesses for not doing enough to protect themselves from theft. But Chicago's government does a lot to prevent private businesses from doing this.
The Fed admits inflation is a problem, so now begins the search to find a fix that doesn't involve a recession or anything else that might allow the economy to heal its malinvestments.
The demand for money is key in exchange rates and a major factor in the exchange rate is the relative change in the growth of respective money supplies.
The knowledge of government planners is much overrated. Instead, we must "trust no man beyond his infinitesimal area of competence; hold him to the very little he knows."
If the private sector does not accept a currency as a general means of payment and a store of value, the currency becomes worthless and ceases to be money. Ultimately, it becomes useless paper.
For decades, countless parents have been on autopilot when it comes to letting the state manage their child's education. But over the past two years, millions of parents have begun to take control.
When prices fall as a result of rising wealth that's good news. But deflation is also good news when it follows the bursting of a financial bubble caused by money creation.
