Advocates for more military spending tell us the taxpayer must pay to expand the US's nuclear arsenal. Because of China. In truth, the US's arsenal is in no danger of not "keeping up."
San Francisco, as well as the government of California, is calling for millions in "reparations" for black people in that state. Reparations, unfortunately, are fast becoming another anti-property-owner racket.
Ever since the Luddites rampaged through British textile factories in the early 1800s, people have feared that technology will result in mass unemployment. They were wrong then and are wrong now.
Mises saw essentialist values as fallacies because they were unverifiable and saw metaphysical ideas as a key component of authoritarianism. His solution was utilitarianism.
The story of the failure of Silicon Valley Bank is the story of nearly every bank failure. Fractional reserve banking invites the risky behavior that brings down the banking system.
Even if Powell is sincere in this stated desire to slay inflation with more rate hikes, recent bank failures will put the Fed under enormous pressure to end its rate hikes and to once again embrace easy money to save the banks and Wall Street.
Collusion was a way of life with state-chartered enterprises. Little has changed, as firms with political connections still gain profits from their collusion with the state.
The great economist Armen Alchian once observed, “Fortunately, societies have progressed despite almost universal ignorance of economic principles.” True.
