COVID lockdowns (1) threw millions out of work, (2) increased police harassment of peaceful people, (3) cut people off from key institutions that reduce social conflict. This made a volatile situation far worse.
COVID-19 is not really a "national" issue. It has affected different areas in very different ways.
Put simply, if it were not for accommodative monetary policy, these firms would have otherwise shut down by now. Once again, the Fed is refusing to allow the invisible hand to rein in the excess for fear of a liquidity crisis, credit crunch, and worse.
A big reason that socialist ideology has staying power is the tactic of blaming the many failures and disasters of socialist regimes on the alleged fact the regimes "aren't real socialism."
It’s important to call the government and media on this unholy alliance, whether you view their targets as sympathetic or not. If we stay silent when they come for our enemies, they will ultimately come for us.
The real problem with inflation, properly understood is that it is essentially a wealth transfer away from the most productive parts of the economy. This causes bubbles and economic fragility.
The massive bailout of indebted sectors that already had overcapacity and were in process of obsolescence may also drive the largest wave of malinvestment in decades. If the previous recoveries came with poor wage and capital expenditure growth and high debt, the next one will likely be even worse.
Ultimately, we need not rely on the government (i.e., the “king’s men” putting Humpty-Dumpty back together again). People acting freely in a marketplace could do it all by themselves. If only the government would let them.
Police are not legally obligated to provide protection from criminals. Nor are they motivated to go after hardened criminals or investigate violent crime. Self defense (or private security) is the only reliable option.
If time preference is genetically built into humans, are they double discounting future goods? Does this mean people should stop trying to weigh time in their calculations?
