Joe Weisenthal is questioning whether people should be able to deposit their money in a checking account and be paid interest on it — Rothbardians have been saying that for decades.
The introduction of money does not alter the fact that individuals still have to produce something useful in order to secure some other useful goods for themselves.
Brexit is an opportunity to reset economic, monetary, and trade policies. The implications of getting rid of the EU millstone go far beyond the leaving date of 31 October.
The US dollar came to rule the world in the wake of two world wars. But back then, the dollar's hegemony was based on a solid foundation of savings and capital accumulation. But today, the dollar's growth is based on huge piles of debt.
With its latest rate cut, the Fed is either caving to pressure from the Trump administration, or the Fed is admitting the economy is weaker than stated. Or the Fed simply doesn't know what's going on.
With the economy growing at 2.1%, unemployment at 3.6%, creating 170,000 jobs per month, and estimated underlying core inflation of 2%, no objective data justifies cutting rates that are already artificially low.
Donald Trump thinks the Fed raised rates "too fast." In truth, rates have been at remarkably low rates for the past decade. And how would Trump know how fast is "too fast" anyway?
