Persistently loose monetary policies always have negative growth and distributional effects that impair political stability. In extreme cases, there are civil wars and armed conflicts between countries.
Everything from huge Keynesian "stimulus" policies to the war in Ukraine is dovetailing in a bout of stagflation: the simultaneous growth of inflation and unemployment.
The presence of American companies in foreign nations was once seen as a sign of American superiority and an instrument of American cultural power. Not anymore.
The absence of market discipline in medicine cannot last. Governments and the medical cartel have successfully used fear to maintain control. Fear has kept the masses from rising up. Until now.
Janet Yellen, who once was the nation's chief inflationist, now says that poor women need easy access to abortion because inflation might work a hardship on them.
