After lying dormant for several years in the aftermath of the Great Recession, the subprime market has returned with a vengeance. Subprime has become prevalent in every facet of the credit industry, and we should be terrified.
Petrodollars and petrodollar recycling are at the heart of what keeps the US debt and money-printing mechanism going. The geopolitical stakes are very high.
If Chileans are concerned about inequality, real solutions are likely to be found in combating the central bank and other anti-market institutions.
Contrary to the popular way of thinking, setting in motion a consumption unbacked by production through monetary pumping will only stifle economic growth.
All of the “crimes” tied to this case are essentially fictional charges that are derived from some other action. These are "derivative crimes," based on invented violations such as "false statements" or "obstructing the mails."
The original justification for the creation of another central bank did not allude to the modern goals of “full employment” and “price stability.” Rather, the pleas of the time called for an “elastic currency” that would expand or contract according to the “needs of trade.”
Since outright grants of monopoly or quasi-monopoly would usually be considered baldly injurious to the public, governments have discovered a variety of methods of granting such privileges indirectly, as well as a variety of arguments to justify these measures.
Last month's election gave Boris Johnson a strong majority in Parliament, but two economic wildcards could trip his new government up.
A universal basic income can easily be weaponized as a tool to punish "antisocial" behavior such as holding "unacceptable" political views or otherwise engaging in what the state doesn't like.
Why should we think that government officials are better at acting “rationally” than those they regulate? Even if we were to concede that smoking deserves to be restricted, why should we think the government can do it in a reasonable way?
