The problem of the eurozone is not China, rate hikes, or the Ukraine war. The curse of the eurozone is central planning. Subsidizing obsolete sectors and zombie firms, bloated government spending, and high taxes.
Humanity progressed very slowly from the fall of the Roman Empire to almost the nineteenth century. Then came the Industrial Revolution, which changed everything.
Contrary to the longstanding myth of Fed independence and political neutrality, the Fed is a deeply political organization committed to kicking the can down the road to get the regime through just one more election without a fiscal or monetary disaster.
Forget the other mainstream explanations for interest. Time preference explains this phenomenon and gives a true picture of why interest exists in the first place.
The eternal “climate emergency” is upon us. While doomsday is said to be around the corner, the reality is that the only thing rising is the level of government control.
The Federal Reserve is losing money, according to its official books. Does that matter, or does the Fed operate outside the bounds of the laws of economics?
