New York City subways are in deep financial trouble and the quality of service is in a downward spiral. Yet even talking about privatization is verboten.
Instead of trying to spin conservative justifications for disastrous monetary policy, conservatives should join libertarians and classical liberals in working to limit government power while restoring sound money and greater market freedom.
The political climate that fostered panic and lockdowns a year ago is now changing. Legislatures are turning against governors and the public is no longer hysterical with fear. Politicians aren't sure what to do.
According to popular thinking, the sharp decline in money velocity since June 2008 is likely to neutralize recent strong money supply increases’ effect on price inflation ahead. This is a fallacy.
If the United States breaks up into smaller pieces, how will the new nations be able to defend themselves from the likes of China? Thanks to geography and wealth, even smaller American states would be well protected from Asian and European powers.
There are few sacred cows in American politics more revered than the New Deal. Yet the New Deal did nothing to end the Depression and it still negatively impacts our economy today. Now we're being told the United States needs a new New Deal.
The dollar has benefited mightily from the abandonment of commodity money, the Bretton Woods system, and the rise of competing fiat currencies. This is partly why the dollar has come to dominate international trade.
