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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.
Home price growth of the sort we've seen in recent years simply cannot be sustained without a continued commitment to easy money from the central bank, and it shows.
Big GovernmentBureaucracy and RegulationTaxes and Spending
More than forty years ago, California voters enthusiastically passed Proposition 13, which limited property tax hikes. Politicians have been lying about it ever since.
Celebrities in Western countries generally support socialism or some sort of collectivism. While they benefit from supporting collectivism, the poor people they claim to care about suffer under it.