An unheralded work on the Austrian business cycle that rivals the work of the greats is Jesús Huerta de Soto’s Money, Bank Credit, and Economic Cycles, which outlines a multistate process of boom and bust.
Biden has proposed a new $200 tax on rifles and magazines, with a $10,000 fine for noncompliance. Registration involves filling out a thirteen-page form, with fingerprints and a photograph of yourself.
The Japanese experience offers valuable lessons for the US and Europe. A loose monetary policy can stabilize a recession for the short term, but a persistent flood of cheap money paralyzes productivity gains and growth.