banking

The Incredibly High Cost of Errant Capital Allocations

As always there are no price controls, there are just shortages. Place President Biden’s rhetorical attacks on “junk fees” in the price control category, along with the CFPB’s regulatory attacks. Nothing is free. Yet the CFPB wants to bring down the $32 charged for late payments on credit cards to $8. Someone will pay for this. Readers can guess who.

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javier

If Javier Milei Trusts the Markets, He Doesn’t Need to ‘Dollarize’

This will cause some heads to explode within the various free-market and interventionist religions, but market forces born of production decide which currencies circulate, not central banks or presidents. Which means Javier Milei is wise to not dollarize.

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monetary

Monetarism Is Suffocated By Its Endless Contradiction

Money isn’t abundant in Palo Alto but scarce in Baltimore because the state decreed it so, rather money in circulation is production determined. It’s a market phenomenon every bit as powerful as the production that drives it. There is in fact a free market for money, and it’s exacting.

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forbes

The Fed’s So-Called ‘Inflation Fight’ Was a Big, Fat Non Sequitur

The inflation fight was a non sequitur, not to mention that the higher prices had nothing to do with inflation. The wonder is if the various economic religions will ever accept that the fastest path to lower prices isn’t Fed rate fiddling, rather it’s spreading production across as many hands and machines as possible.

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