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This year's presidential election is presented in stark terms of right and left, Trump on the right and Harris on the left. However, it is more realistic to say that both candidates are to the left of where electoral politics was located just a couple decades ago.
Many proponents of free markets have tried to cast aside the name “capitalism” as a descriptor of the market system. They should take caution before doing so.
The more things change, the more they remain the same. In our present age of inflation, we are reminded of how Diocletian and other Roman authorities ordered price controls and other measures to hold down prices. None of these edicts were successful in bringing down prices.
The Fed is desperate for you to think that "this time is different." Unfortunately, Powell can't seem to come up with explanation of why that is the case.
The Fed’s specialty is propaganda through data, with a long record of failure. This is by design. Their communication tools must work in overtime, particularly in the face of a decision like this, to avoid “spooking markets”, though this veneer is easy to see through.
Banking systems around the world have huge effects on our lives, yet few people understand how banks work. Worse yet, even fewer understand the malign powers of central banks and how this system undermines economies. Thus, it is important to demystify these systems.
Can you understand how it can be that the Federal Reserve, the world’s greatest and by far most important central bank, has now lost the astounding sum of $193 billion?1 If not, you are surely not alone. Since September 2022, the Fed has lost money every month.
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