Since the 1940s, failed statist schemes have dragged Argentina into poverty. Javier Milei, who is gaining popularity there, hopes to change his nation's sad history.
Real deflation—both monetary inflation and price inflation—is necessary, and that can only be accomplished if the Fed can resist the temptation to keep doing what it's been doing since 2008.
The Fed is losing a lot of money. The Fed's stated plan is to monetize these losses and still report a positive capital and surplus position through the use of “creative accounting.”
Unlike a private-sector service, police do not operate under any contractual obligations to provide services in any particular way. They can choose to do nothing at all, and face no real consequences.
