Inflationists will blame inflation on anything and everything except the only thing that makes all prices, which are measured in monetary units, rise at the same: Money supply growth rising faster than real economic output.
People commonly believe that a society without central political authority will dissolve into chaos. But a small kingdom within Spain existed peacefully for seven hundred years under what we would call anarchy.
Despite all of the inflation-fighting talk from the Fed, the truth is that the government benefits from inflating the currency. We need to know how to defend ourselves.
A "soft landing" is impossible unless the government cuts both taxes and government spending at the same time interest rates are rising. This won't happen, so get ready for a hard landing.
Should political reform be the result of a much-discussed comprehensive plan? Or should it come about through decentralized decision-making that deals with the situations at hand?
