During March 2021, year-over-year (YOY) growth in the money supply was at 34.1 percent. That's down slightly from February's rate of 39.1 percent, and up from the March 2020 rate of 11.3 percent.
A loose monetary policy that is aimed at boosting use of idle resources won't work. Idle resources only become profitable and efficient when we have enough real savings. Unfortunately, easy money policies destroy real savings.
Key methodological differences between Austrians were highlighted in Milton Friedman's "The Methodology of Positive Economics." A key piece of conflict: Friedman's focus on prediction rather than explanation.
What matters for real economics is real savings, not increases in consumer spending driven by money printing. The best way to get an increase in savings is to decrease both money pumping and government spending.
America is plagued by mountains of debt, cheap money, and an out-of-control central bank. But the situation with the European Central Bank is even more dangerous.
Major League Baseball's boycott of Georgia only makes any sense at all if we conflate every single Georgia resident with the regime itself. But in the real world the claim that "we are the government" has always been nonsense.
To foster economic recovery, we do not need "stability." What we need is an environment of freely changing prices, even if price changes are frequent and substantial. Only this call allow markets to respond to consumer needs.
Monetary sovereignty is not something the government decides. It all depends on the public's demand for a currency. That demand comes and goes, and once it's gone, a currency is irreparably damaged.
