Once we look beyond a small shift in rhetoric and emphasis, there is, so far, no reason to believe that the Fed is headed toward anything other than business as usual.
Elon Musk becoming the world’s first trillionaire has triggered a familiar round of progressive outrage. But the imprecise focus on wealth distribution obscures the real issue: how much of modern wealth is acquired through politics rather than production.
Sure, the earnings average was up year over year, but prices increased more than earnings did. In fact, price inflation hit a 38-month high in May.
Hooking people on bogus labels and antidepressants has already ruined too many American lives. Passing out millions more psychiatric Purple Hearts will not make this nation happier or more sane.
According to AOC and Bernie Sanders, it is impossible for someone to obtain a billion dollars of income by any means beyond theft. How much of a mega-income is due to entrepreneurial profit and how much is a wealth transfer?
Economists like Harold Demsetz and Ronald Coase based their property rights views on utilitarianism. Murray Rothbard based his on justice.
That wasn’t a misquote; Trump actually said I love the inflation—do take a moment to let that sink in.
When inflation surges, the first thing on the government's agenda is for the Federal Reserve to try to force up interest rates. However, as Frank Shostak writes, that might not be the best strategy.
Regulatory systems are infamous for creating “traps” that seem to be impervious to reform. Regulators seek to “drain the swamp,” but, instead, find themselves up to their necks in alligators.
Unfortunately, the Pope does not understand the role that monetary inflation plays in fueling AI’s excesses. If he did, he might lead a necessary anti-AI spiritual alliance for sound money.
