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.
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.
Humanity progressed very slowly from the fall of the Roman Empire to almost the nineteenth century. Then came the Industrial Revolution, which changed everything.
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.
Forget the other mainstream explanations for interest. Time preference explains this phenomenon and gives a true picture of why interest exists in the first place.
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.
The eternal “climate emergency” is upon us. While doomsday is said to be around the corner, the reality is that the only thing rising is the level of government control.
As this author previously has noted, the ideology of statism is responsible for much of the violence that plagues the world. We see this played out in Israel's aggressive retaliatory attacks in Gaza in response to the October 7 killings by Hamas.
Washington never sleeps when it comes to declaring new overseas enemies to destroy. The new “axis of evil” now consists of Russia, Iran, and China.
