Just as the internet needed web browsers before it could really change the world, Bitcoin needed user-friendly interfaces to grow beyond money and towards being the base layer—the “rails”—for decentralized services built on Bitcoin alone.
Federal officials are starting to understand that they can no longer intimidate and threaten their way to universal compliance with covid restrictions.
The experts claimed that if any state ended its stay-at-home orders “prematurely,” its economy would become even more devastated than if it remained locked down. The experts were wrong.
The shift of money from one market to another market is not instantaneous there is a time lag from increases in money and its effect on the average price increases.
Alcohol sales in Ontario are stuck in a morass of price-fixing and other government controls.
It's possible to buy fireworks in Wyoming that are illegal in Colorado. So Wyoming merchants have placed a number of huge fireworks shops about two minutes from the border. It's quite convenient for Coloradans planning to ignore local laws.
Because of past easy-money binges, the pool of wealth may be declining just as prices are increasing. And we're likely to see upward pressure on interest rates. This is bad news, and shows the limits of the Fed's power.
Niall Ferguson’s new book Doom: The Politics of Catastrophe is timely. But Ferguson may just be telling the reader what he wants to hear.
We should be quite skeptical when states impose the opinion of minority groups on the majority through special programs in schools and elsewhere. Such programs likely involve “positive discrimination” against particular groups, consistent with state objectives.
The Fed says rate hikes are at least two years away. A lot can happen in two years, and since when is forecasting a couple rate bumps two years from now considered hawkish to the point of making the dollar pop and gold flop?
