Michael Milken was a threat to the complacent Wall Street cartels established by the New Deal. So ambitious prosecutors like Rudy Giuliani saw an opportunity to get in good with Wall Street by taking him down.
In the wake of the financial crisis of 2008, the Federal Reserve and other central banks around the world adopted new “tools” to influence economic activity in addition to its standard open market operations.
Because banks make unbacked "loans," they create new money that later disappears when repaid. If these loans are not renewed, economic depression sets in.
Economics today poses as a predictive discipline which fails to correctly predict anything; a prescriptive discipline which prescribes the wrong policies; and an empirical discipline which collects data but misses the point.
The World Trade Organization was not the reason global trade was liberalized in past decades. And now, even if such a thing were desirable, the WTO is in no position to force liberalization on countries like the US, China, or India. Thus, the WTO is both unnecessary and irrelevant.
It is ironic that a president who has been the victim of so much deep state meddling has done the deep state’s bidding when it comes to Assange and Wikileaks. The deep state that Trump is serving by persecuting Assange is the same deep state that continues to plot his own ouster.
Anticapitalists often complain that people with more money exercise power over people with less money. Yet these same people seem oddly untroubled by the fact that central bankers can manipulate the money supply at any time to enrich themselves at everyone else's expense.
Is there a correlation between wealth and a higher tax burden? After, people like to say that more taxes mean more public services.
Susan Neiman contends Southerners need to acknowledge guilt for slavery, segregation, and lynching, and "work off" the past. But collective responsibility is a chimera, and a dangerous one at that.
Blago's real crime wasn't trying to sell a senate seat, if he did in fact try to do that. Rather his crime was that he refused to appoint the man Obama had picked as his successor in the Senate.
