economics

The U.S., IMF and Greg Ip Get Into a Fight With Basic Economics

It was recently revealed that lefty economist Robert Reich is not – gasp – an economist. It turns out he’s just a left-wing lawyer. The joke is on those who think Reich’s lack of a PhD is the source of what some deem ignorance. In truth, some of the most economically ignorant individuals on […]

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With Gold Rising, It’s Time for Trump/Harris To Be Presidential

Gold is referred to as a constant for good reason. It’s price doesn’t move. What moves are the currencies in which it’s priced. Which is a reminder that when the price of gold in dollars declines, that’s the sign of a rising dollar. Conversely, when the price of gold rises, that’s the sign of

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Who Needs Balzac When We Have the Austrians?

Honore de Balzac observed in seemingly acidic fashion that “Behind every great fortune there is a crime.” Eventually FDR latched onto Balzac’s nonsensical notion, and now it seems to be gaining currency among neo-Austrians. Austrian School economist Peter St. Onge is disappointly one of those. In a Twitter post, St. Onge asserted that “Federal spending, open borders,

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As Economists Do Now, Milton Friedman Got Inflation Wrong

In a video that’s gone viral, the late Milton Friedman correctly asserts about inflation that “consumers don’t produce it,” and “producers don’t produce it.” Only for Friedman to go off track with the observation that “too much government spending” does produce inflation. Ignored by Friedman was that governments aren’t some kind of other capable of extracting spending power from Pluto,

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Does the Economy Really Perform Better Under Democratic Presidents?

Responding to the failures of Enron and Worldcom within six months of each other, failures that didn’t spook the markets much at all, President George W. Bush zestily signed into law Sarbanes-Oxley (legislation that most certainly did spook the markets), thus criminalizing failure in an economy that had long derived its dynamism from – you guessed

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There Are No Economic Forecasts, There’s Just Potent Fallacy

Economists quite literally ascribe to themselves an ability to forecast the global economy. Any doubts about the previous assertion can be found by placing “global recession” into the search bar of your engine of choice. The arrogance of such a presumption is astounding. As is written here with some frequency, the mere notion of

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With Marco Rubio’s Plans, Who Needs Central Planning?

“But in May 2015, Beijing went public with a 10-year plan to dominate high-value, high-technology sectors – with the unspoken goal of destroying America’s economic supremacy.” Those are the words of protectionist Florida Senator Marco Rubio from an opinion piece published in the Washington Post. On their own they require a pause. As history

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