Money versus Monetary Policy
We're still living with the consequences of the massive monetary inflation by Trump and Biden. Prices are stubbornly high, and falling real wages are driving Americans to say things are getting worse.
We're still living with the consequences of the massive monetary inflation by Trump and Biden. Prices are stubbornly high, and falling real wages are driving Americans to say things are getting worse.
We're still living with the consequences of the massive monetary inflation by Trump and Biden. Prices are stubbornly high, and falling real wages are driving Americans to say things are getting worse.
Money is simple. The political program of monetary "policy" is not.
Measures of the U.S. money stock in current use are flawed precisely because they are not based on an explicit and coherent theoretical conception of the essential nature of money.
No matter the historical era, governments have excelled at one thing: debasing their own currency. Rome was no exception, as Roman government excesses required inflation—lots of inflation.
No matter the historical era, governments have excelled at one thing: debasing their own currency. Rome was no exception, as Roman government excesses required inflation—lots of inflation.
The fiat monetary system is slowly breaking down, taking the economy with it.
Once upon a time, the USA had sound, reliable money. Then, a small group of "really intelligent" people decided to "improve" it. We know the rest of the story.
The fiat monetary system is slowly breaking down, taking the economy with it.
The fiat monetary system is slowly breaking down, taking the economy with it.