Even after two years of "transitory" inflation, America's ruling classes insist that prices are falling and that all of this is temporary. We don't believe them.
Justice Oliver Wendell Holmes famously claimed that taxes were the price people paid for civilized society. The problem is that taxes themselves are antisocial.
Perhaps the most pernicious Keynesian myth is that a market economy needs wars in order to keep full employment. Wars don't stimulate the economy; they depress it.
The newest farm bill in Congress picks the pockets of both consumers and taxpayers. It has been that way for a century, and there is no prospect of change, at least for now.
