As the federal government continues its Ponzi scheme of issuing debt to pay for past debts, interest rates will increase to the point where this no longer is a tenable strategy—if it ever was.
An unfortunate consequence of increased wealth is the growth of the parasitic consumptive class of political and cultural elites. Labor migrations often follow in the wake of damage that elites do.
The newly-released movie "Killers of the Flower Moon" depicts what happens when politically-connected people can use the state to carry out nefarious deeds. Unfortunately, government failure is one lesson that is sure to be lost here.
In the aftermath of Hamas's taking hostages in its conflict with Israel, the question arises: Who pays the ransom? State-financed payments lead to the worst outcomes and create moral hazards.
A Cato Institute associate has declared the development of the covid-19 vaccines to be a free-market “triumph.” The only thing that has triumphed in this sorry episode has been the rapid growth of coercive government power.
Data on employed persons, wages, and other measures point to trouble ahead in an economy already strained by growing bankruptcies, mounting debts, and disappearing savings.
Governments regularly suppress freedom—yet few complain. One wonders if Stockholm syndrome is at work.
Nobel Prize winner Angus Deaton claims that the free market cannot provide adequate medical care. Of course, he goes on to describe government failure but calls it a free market.
One way to combat intellectual atrophy is to learn from Ibram Kendi’s mistakes and do the opposite.
The Federal Reserve claims to know the “neutral” rate of interest, as though these things can be known administratively. Either interest rates are set by the market or done by fiat; it cannot be both simultaneously.
