If business owners were hoping to catch a break in 2021 after having been completely victimized by government lockdown procedures and left-wing rioting, they may want to brace themselves for more pain as the Biden administration gets going.
The ECB is now turning to a new mechanism by which a bond’s value can be legally reduced by the issuer in times of hardship. The purpose is to allow central banks and governments new ways of ripping off the private sector.
Despite the heightened partisan tensions in recent weeks and months, some progressive Democrats are drawing the line at expanding the police state’s powers over political dissidents.
Many say economics must focus on preserving resources for distant future generations. They say climate change is why. That's may seem convincing in the abstract, but we soon learn how hard it is to predict future needs, and to ignore present ones.
"Jobs programs" never create new wealth. They only redirect wealth and resources from other sectors of the economy. The cost to those other sectors is often very high.
With a sound money, none of these distortions would have been possible: the limitations of the currency itself would have forced an unwinding of excessive risk far before it could become a clash between major hedge funds and Reddit trolls.
Surprise! An audit of Pennsylvania's covid lockdowns reveals the process lacked any legal consistency or transparency. Yet Pennsylvania's health bureaucrats have used these arbitrary rules to crush the state's entrepreneurs.
