Fed officials rate as much ridicule as does New York City Mayor-elect Zohran Mamdani. Arguably central bankers rate more.
To see why, stop and contemplate how politicians, pundits and economists have fallen all over themselves to elevate their own grasp of basic economics via Mamdaniâs rhetorical confusion. Doesnât New York Cityâs socialist mayor know that ârent freezesâ and other attempts to decree cheap what is not cheap will result in scarce supply of the very apartments Mamdani wants to decree affordable? …
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John Tamny is Founder and President of the Parkview Institute, editor of RealClearMarkets, senior fellow at the Market Institute, and Senior Economic Adviser to mutual fund firm Applied Finance Group. Tamny is the author of eight books. His latest is The Deficit Delusion: Why Everything Left, Right and Supply-Side Tell You About the National Debt Is Wrong. His others are Bringing Adam Smith Into the American Home: A Case Against Home Ownership, The Money Confusion, When Politicians Panicked: The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason, Popular Economics, Who Needs the Fed?, The End of Work, and They're Both Wrong: A Policy Guide for America's Frustrated Independent Thinkers.
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