Monetary sovereignty is not something the government decides. It all depends on the public's demand for a currency. That demand comes and goes, and once it's gone, a currency is irreparably damaged.
To be an economist with integrity means having to say things that people don't want to hear and especially to say things that the regime does not want to hear.
It’s possible the pandemic will fizzle, someone will snap their fingers, and everything will revert to the precovid economy. But indications are that commercial real estate will take lumps, some that will be fatal.
The new covid relief bill signals that whatever restraint on public spending existed before 2020 is now all but gone. And the bill represents the beginning of a new era: an era that can be likened to that of the New Deal.
An explosion in the money supply has driven many corporate managers to turn to stock buybacks as a safe alternative to holding on to depreciating cash. This means many companies are decapitalizing.
Most of the economic groups in the 1780s favored inflation: the main problem was in determining which groups would obtain the enjoyment of the newly created money.
Local politicians have pretended the Lemp killing never happened and the media let them get away with it—the same way that most of the New York media covered Governor Andrew Cuomo’s nursing home catastrophe last year.
