Considering the bond yields have only risen slightly, and that monetary overhang from covid is still huge, it’s difficult to be remotely confident that monetary conditions have been tight.
Robert Kagan believes that the US takeover of the Philippines was justified to "protect" that nation from predatory European powers. David Gordon emphatically dissents.
The proposed central bank digital currencies are not a new and convenient high-tech form of money. Instead, they are yet another power grab by government authorities, continuing the shameful history of government corruption of money.
For nearly three decades, the Japanese economy has slowly imploded under low interest rates and heavy government debt. It may soon be time to pay the piper.
When consumer prices shot up after the massive monetary injections undertaken to counteract the job-killing Covid lockdowns, the political classes called it "price gouging." Indeed, when government inflates, we need all the price gouging we can get.
Forty years ago, American politicians claimed that Japanese economic success was due to government economic planning. Unfortunately, the myth of industrial policy never seems to die, no matter how many times it is discredited.
High time preferences also mean high times in a party atmosphere. When Jamaica embraced socialism many decades ago, it wasn't supposed to come to this.
