JOIN OR RENEW TODAY
Financial MarketsGlobal EconomyMoney and Banks
Central bank policies that rely on ultralow interest rates have been shown to bring economic stagnation. Unfortunately, central bankers don't seem to have any other ideas.
Central banks are absolutely committed to low rates because higher interest rates would turn the boom into bust, and would collapse our production and employment structure now based on a system of ultra-low rates.
In the short term, a central bank can drive up stock prices by lowering the interest rate. In the longer term, it could sap the strength out of an economy.
By tinkering with interest rates, central banks tinker with the way human beings see the present and the future, and their value systems overall.
Money and BanksMoney and Banking
Under an inflationary monetary scheme, big financial-sector players who get the new money first benefit the most. Ordinary households down the line then bear the brunt of price inflation.
Monopoly and Competition
Monopolistic abuses rarely survive without a basis in one form or another of special privilege granted by government.
U.S. HistoryWar and Foreign Policy