By late 2021, fueled by trillions in newly printed money, gasoline prices had surged to ten-year highs. Now, even in inflation-adjusted terms, gasoline prices are surging to new highs.
When asked to quantify how a 75-point hike is better than a 50-point one, Powell had no answer. And will it work? Powell could only say "we'll know when we get there."
California's progressive political classes now have a scheme to impose a single-payer system for medical care. If imposed, it will be costly but also ineffective.
Digitization will undoubtedly bring great improvements and new opportunities for peoples’ lives. But digitization also has a downside.
Economic libertarianism, with its sole focus on government budgets and taxation, is a highly limiting political strategy. Libertarians should proceed as enemies of the state.
During April 2022, year-over-year money supply growth was at 7.23 percent. That's down from March's rate of 7.41 percent and April 2021's rate of 36.8 percent.
Economists have failed to explain the mechanism by which an inverted yield curve signals an impending recession. But the Misesian explanation of the business cycle quite easily explains the pattern we observe in interest rates.
Forget the notion that the Fed "fights inflation." In fact, the Fed exists to promote inflation.
Totalitarian societies do not become that way overnight. There are recognizable signs and stages which show how a society slides into that abyss.
Progressives believe that economies should be run by high-IQ "experts." But successful market economies require entrepreneurs with an idea and the willingness to face uncertain economic conditions.
