Modern Monetary Theory (MMT) is something only economists could have dreamed up. It’s the laughable view that governments can spend without limit so long as they’re the sole issuer of their country’s currency. Except for one problem. If governments were ever reliant on the printing press for their spending power, then it’s safe to […]
“MMT” Is Basically a Left-Wing Variant of the Austrian School Read More »
“We require a commitment from those countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.” As readers can hopefully gather, President-elect Donald Trump
Without a Stable Dollar, Trump’s BRICS Demands Will Be Toothless Read More »
Fairfax (VA) and Montgomery (MD) counties are routinely at or near the top among U.S. counties on the matter of per capita income. The politically focused use the latter for political purposes. Get it? Federal government workers and workers adjacent to the federal government earn a lot of money. The income statistics are disturbing,
The Crucial Difference Between High W-2 Income and Equity Wealth Read More »
Last week, and while walking toward the Pavilions grocery store at the Montecito Country Mart, I passed by Clic. Its website describes it as “a globally acclaimed home décor and lifestyle brand.” Its signage lists shops in prominent locales including St. Barth, Marin, and East Hampton. It doesn’t insult Clic one iota to point
The Unseen Economics Lesson Within the Beauty of Montecito, CA Read More »
Every so often it’s worth reminding readers what a miracle shopping is. Would-be buyers walk into businesses staffed by employees and owners who haven’t a faint clue about them, only to emerge from those same businesses with the goods and services they desire. These transactions are increasingly made possible by credit-card providers. Stop and
Price-Controlled Credit Cards Would Be Brutal for Retailers Read More »
Social Security is in the process of morphing into “universal basic income” (UBI). The previous statement isn’t an endorsement of UBI, as much as it’s a prediction about what’s going to happen. Is this a good development? The view here is that it’s a bad one, and not because people will cease working. Instead,
Social Security Will Morph Into UBI When No One Needs Either Read More »
A recent story in the Wall Street Journal indicated that Manhattan Institute scholar Christopher Rufo is set to meet with President-Elect Trump’s team to discuss a plan “to geld American universities by withholding money if they don’t pull back on diversity measures.” How dangerous, and how very anti-conservative. Think about it. Underlying Rufo’s aim is to use the federal
It’s Not Conservative for Conservatives To Spend the Money of Others Read More »
If Congress relied on federal printing presses to fund its spending, then by definition the spending footprint of Congress would be very small. Yes, you read that right. No need to read it again. To understand why this is true, stop and think what the market reaction would be if it were actually true
Governments Reliant On the ‘Printing Press’ Are Notably Small Read More »
Fifty years ago, on Nov. 30, 1974, my dad took my 7-year-old sister and me to the Los Angeles Coliseum to see Notre Dame play football against the University of Southern California. My dad had been a USC fan since his college days when a fellow midshipman at the U.S. Naval Academy convinced him
Tradition Gave College Football Life, Don’t Let It Die Read More »
“If one-half of the commodities in the market rise in exchange value, the very terms imply a fall of the other half; and reciprocally, the fall implies a rise.” – John Stuart Mill, Principles of Political Economy There was a time – particularly among thinkers on the supply-side and supply-side adjacent right – when it was
The Inflation ‘Know-Somethings’ Doth Protest Too Much Read More »
