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Central BanksFinancial MarketsMoney and Banking
All of the excess of unproductive debt issued during the period of complacency will exacerbate the problem in 2023 and 2024.
Big GovernmentEconomic Policy
Liz Truss sought to be another Margaret Thatcher, but her ballyhooed budget numbers did not add up.
Geuss claims to be a liberal against liberalism. Given that he has praised Lenin and Mao, that part about being against liberalism is certainly true.
Cheap money in the last decade has meant good times for companies that barely make money and hire employees who barely work. But those times are now ending.
The FedU.S. HistoryWar and Foreign PolicyWorld History
Historians praise the US entry into World War I because it enabled an Allied victory. But it also led to the economic disasters of the 1920s and ’30s.
Monetary PolicyU.S. History
The author recalls the 1922 peace dollar his grandfather gave him sixty years ago. Real money.
PricesValue and Exchange
Contrary to myth, businesses can't just set prices at whatever level they want. "Greedy" capitalists can ask for higher prices, but prices mean little if people are unable or unwilling to pay them.
InflationWar and Foreign Policy
The dollar's petrodollar status has led the Federal Reserve to irresponsibly inflate the currency. The rest of the world has noticed and is looking for alternatives.