Advocates of unbacked paper money claim that theirs is the “civilized” choice, as opposed to gold, or what Keynes called “that barbarous relic.” These inflationists, however, are the ones wrecking civilization as we have known it.
Ten years ago, I discovered the Mises Institute. This is the advice I wish I could send back to my younger self.
California governor Gavin Newsome has signed a draconian new bill meant to raise pay for the state's fast-food workers.
Sovereign debt is eating the world. Lining up a financial crash that could make 2008 look like a picnic. How did we get here?
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.
The US economy has deteriorated into little more than a series of asset bubbles driven by the inflationary policies of the central bank.
Humanity progressed very slowly from the fall of the Roman Empire to almost the nineteenth century. Then came the Industrial Revolution, which changed everything.
Biden administration cheerleaders such as Paul Krugman claim that inflation is under control and that unemployment is falling. The numbers tell a very different story.
American exceptionalism, the “treasury of virtue,” has always been the moral cover for all of this greed, racism, barbarianism, and worse. The good news today is that it is hard to think of anyone with a sound mind who would sincerely believe this any longer.
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.
