The political and banking classes both demand easy money right now. (They always want it.) Print more and more money and the world will continue on as it has (limping that is) for the past 5 years. This is the “new normal.” Sure it’s corrupt, sure it’s counterfeiting, sure it encourages unsound economic and political decisions, but hey we need to do what we need to do.
This essay by Murray Rothbard holds particular relevance as the Trans Pacific Partnership continues to be negotiated in secret.
I have to say that I was saddened by Pope Francis’s recent assertion that “rampant capitalism” is a source of many of the world’s ills.
Recently I wrote a piece entitled Boycott Back Friday. Generally it was well received. Being fans of capitalism and the voluntary exchange of goods and services we made the point that it was entirely reasonable to opt out of the buying frenzy from a pro-market perspective. To value time (time is money) with one’s family and more than standing in line to buy things is the very essence of what a free market is all about.
Ah yes, JP Morgan. Friends and frenemies with this White House. Jamie Dimon is held up publicly by the administration for a few days in an orchestrated PR move, then Dimon flies back to New York, he and his company in the clear. Dimon was never going down. JP Morgan certainly wasn’t.
The 0% interest rates of the past 5 years have made the wealthiest people in America and the world much wealthier. At least in (fiat) dollar terms.
I’m not kidding. The guy who was in charge of a big part of the Fed’s quantitative easing efforts in 2009, Andrew Huzar, explains that all the money printing, the exploding of the Fed’s balance sheet, all the central bank sleight of hand has hurt this country, and the world.
The attached article is a partisan one. There is no mistaking the author’s feelings for Hillary Clinton. Matthew Continetti is not a fan.
If the government is spying on the communications between individuals, companies, and governments to gain informational advantages in trade negotiations, general law enforcement, “homeland security,” and nearly everything else, the chilling effect on the overall economy could be profound.