The Truth About Bidenomics: More Debt, More Inflation
Estimates of United States growth have improved but remain massively below the Federal Reserve projections. After the largest monetary and fiscal stimulus in recent years, growth remains well below trend, and debt is significantly higher. It is interesting to hear Janet
Wall Street to the Fed: Inflation Is Over. Give Us More Easy Money!
The problem here not that the central bank is "setting" the "wrong" interest rate. The problem is the Fed has long been relentlessly forcing down interest rates to satisfy various politically determined "needs." Original Article: "Wall Street to the Fed: Inflation
Call Rent Control What It Really Is: Theft
Rent control is all the rage with progressives, with several states and localities trying to impose it. However, when people have their property effectively—and legally—stolen, there are long-term consequences. Original Article: "Call Rent Control What It Really Is: Theft"
How “Squatter Democracy” Created America’s First Welfare Program
After 1820, growing numbers of propertyless squatters were voters, and this was an opportunity for politicians to offer cheap land in exchange for loyalty to the Democratic Party. Original Article: "How "Squatter Democracy" Created America's First Welfare Program"
Two More Elephants in Your Electric Vehicle
On this week's episode, Mark summarizes the many problems with EVs, and focuses on two consequences funded by taxpayer subsidy. Large, overpriced, long range vehicles have been subsidized at the expense of more efficient technological applications. These EVs are significantly heavier
To Smoke or Not to Smoke: The Cigarette Economy in Postwar Germany, 1945–48
During the three years after World War II, Germans—facing a ruined economy and wildly depreciating currency—turned to cigarettes as a medium of exchange on a massive scale. Allied occupation authorities strictly forbade this black-market currency exchange, but it literally saved
Paleoconservatives Need Better Critics
Paul Gottfried is no stranger to criticism from “conservative” gatekeepers. Like his friend and colleague Murray Rothbard, Gottfried has been a target of Buckleyite conservativism ever since he was ousted from the National Review in the 1980s. Also, like Rothbard,
MMT’s Warren Mosler Argues Fed Rate Hikes Cause Growth and Inflation
Bob walks through a recent interview of MMT champion Warren Mosler, in which he claims that Fed rate hikes lead to larger government interest expenses and hence support economic growth and inflation. Bob presents both theoretical and empirical evidence against
The Backstops for Banks Are Full of Holes
First Republic, Signature Bank, and Silicon Valley Bank have all failed, and that’s not the only thing they have in common. Western Alliance Bank’s Ken Vecchione was jealous of these three large regional banks. The chief executive admitted to the
Lessons from Honolulu’s New Train System
Marc Joffe After numerous delays and extensive cost overruns, Honolulu’s Skyline passenger rail system launched on June 30. Skyline is the first U.S. system to use automated trains, hopefully serving as an example to the nation’s other urban transit operators. Driverless