The opening pages of the new decade feel like we’re living through a combination of George Orwell’s 1984 and Charles Mackay’s Extraordinary Popular Delusions and the Madness of Crowds.
Centrally planned economies often stick with terrible ideas for many years. But markets can take bad products, learn from them, and turn them into great products that give the public what it wants and needs.
It is only through the increase in capital goods, i.e., through the enhancement and the expansion of the infrastructure, that labor can become more productive and earn a higher hourly wage.
In the United States, the two-party system of the old days is seemingly still preserved. But this is only a camouflage of the real situation. In fact, the political life of the United States is determined by the struggle and aspirations of pressure groups.
The clear religious nature of progressivism that emerges is clear. The Left has found that racism is the default setting of man, and a person “is able to escape that fallen state” only through their leftish repentance.
The Biden administration has threatened to intervene in Burma to defend "democracy" which really just means putting back into power a woman who is known to support ethnic cleansing. But she said nice things about "democracy," so she'll get the US's nod.
The Swiss state should end antigold regulations, end negative interest rates, and return to zero rates on bank reserves. These are small steps on their own, perhaps, but would be progress away from the brewing mess that is the eurozone.
