On December 20, 2019 President Trump authorized sanctions against companies and individuals who are participating in building Nord Stream Two, a pipeline under the Baltic Sea that will bring Russian natural gas to Western Europe, [more…]
For some time now I have been mulling over the possible causes of what seems to be an increase in the desire for socialism among the young. For someone of my generation (an early post [more…]
A tariff is a tax on imports that is used to satisfy a policy goal. Before the federal income tax became law in 1913, the US federal government was funded almost entirely by tariffs and [more…]
Perhaps the most destructive premise of modern, mainstream economics is that a central bank-induced monetary/credit expansion can cause an economy to grow without adverse consequences. Let’s be perfectly clear from the start…this policy has been [more…]
A few years ago, shortly after the 2008 subprime lending disaster, the Fed sent a public relations team around the country to conduct supposedly “educational sessions” about how the Fed works and the wonderful things [more…]
Most of the world takes it for granted that central banks are necessary for the smooth conduct of trade, both foreign and domestic. Nothing could be further from the truth. Let’s be clear. Central banks [more…]
Simple examples can be used to explain what seem at first glance to be complex economic principles. I’ll use a hypothetical yet commonplace experience to explain how money may be used for only one of [more…]
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