The only thing that saves citizens from much higher prices is the fact that the transmission mechanism of monetary policy is independent and diversified. Imagine if that transmission was direct and had only one channel, the central bank itself.
San Francisco, as well as the government of California, is calling for millions in "reparations" for black people in that state. Reparations, unfortunately, are fast becoming another anti-property-owner racket.
All of Al Gore's children went to Harvard. Are we really to believe that this is because the Gore kids had the most "merit"? The only real meritocracy is in the marketplace.
With negative growth now dipping below –5 percent, money-supply contraction is approaching the biggest declines we've seen in the past thirty-five years.
The great economist Armen Alchian once observed, “Fortunately, societies have progressed despite almost universal ignorance of economic principles.” True.
There is no denying the awful history of slavery in the Western Hemisphere. However, to better understand its legacy, we must rely on truth, not myths.
The foreign policy "elites" have been wrong about regime change, sanctions, "the lesson of Munich," a "rules-based order," and pretty much everything else.
With negative growth now dipping below –5 percent, money-supply contraction is approaching the biggest declines we've seen in the past thirty-five years.
The answer lies not in doubling down on political unity, maintained through endless violence or threats of violence. Rather, the answer lies in peaceful separation.
As sales and price growth slow, the real estate industry is betting everything on a return to easy money. In 2023, it's become the very foundation of their "market."
