Environmentalists rightly point out it is very difficult to manage a complex ecosystem. But they conveniently ignore the fact it's even more difficult to manage an economic system — especially one thrown into disarray by environmental regulations.
Both left and right now repeatedly push a myth: the myth that governments have been taken over by laissez-faire hard-core free-market economists who have turned the world into a landscape of untrammeled capitalism.
Workers get paid now, but the capitalists only get paid if there is a profit. This is why workers aren't paid 100 percent of the value of their output. For them, there is far less risk than for the capitalist.
Central bankers are claiming that a global savings glut is driving down the "natural" interest rate to negative levels. They're wrong.
Conservatives tell us that we must move beyond the idea of allowing people to trade freely in the marketplace. "Patriotism" is the true measure of economic policy, and that requires higher taxes, more government spending, and a powerful state.
When socialists held up Venezuela in the 2000s, the message was, ‘See, we told you so; socialism works!’ but when failure happened, the message changed to, “No, wait — that’s not real socialism!’
Central Banks now have an alphabet soup of policy tools. But it's all radlly just more of the same — that is, inflationary easy-money monetary policy.
A new banking crisis is not only in the making, for which the repo problem serves as an early warning, but it could escalate quite rapidly.
The so-called Founding Fathers used small-scale tax rebellions to justify their counter-revolution against the spirit of 1776, thus launching the big-tax, big-government Constitutional Convention of 1787.
The repo crisis — and it is a crisis — is telling us that liquidity providers are aware that the price of money, the assets used as collateral and the borrowers’ ability to repay are all artificially manipulated.
