Governments seem united in their drive to destroy sound money and replace it with worthless paper. As technologies advance, however, so does the ability of people to undermine government, and with it, the development of sound money.
Trump promises to levy new tariffs and trade restrictions, along with subsidies for favored industries. This latest version of “industrial policy” will fail again, it has in the past.
The Biden presidency is over and not a minute too soon. Biden‘s five decades of public life has always been one of a mediocre grifter, but he saved his worst for his four years in the White House, where he managed to combine incoherence and incompetence with a lust for power.
Biden‘s last-minute pardon of Anthony Fauci was not done to spare an "innocent" person from abuse by dishonest politicians. Biden likely did it to prevent an investigation into Fauci's actions and background, which could have proved damaging for the political establishment.
European Union regulators are levying draconian new requirements for aviation fuel that will surely force up costs for airlines operating in the EU. While these new rules will have zero effect on the climate, the effects on their airlines and their passengers will be negative.
The central pillar of the Keynesian system is that spending drives the economy, so savings on a large scale will push the economy into recession. As Austrians know, that narrative is entirely false and fails to accurately explain how the economy works.
Alexander Stephens's infamous “Cornerstone” speech remains controversial even today. The simple revisionist narrative is that the northern states opposed slavery while only the South supported it. Like all narratives, it leaves out important information.
Americans once dreamed of a country that did not care about global greatness or glory. It was within our reach if we had been wise enough to grasp and hold it.
The standard Keynesian line is that the government can shorten recessions by using fiscal and monetary “stimulus.” However, as Austrian economists note, ratcheting up government spending only makes things worse, setting the stage for the next economic downturn.
As people from Generation X move toward retirement, they are starting to understand that Social Security really is in crisis and many public pension plans are underfunded. Furthermore, they find that inflation is eating through their retirement savings. This won‘t end well.
