There’s a lot to be said regarding the Fed’s surprise announcements—including its Sunday surprise of $700 billion in renewed QE and the complete elimination of all reserve requirements for banks—but here let me just focus on one element: the tendency for Fed officials...
"Reality is that which when we stop believing in it doesn't go away." - Philip K. Dick In March of 2003, we broke ground on the first real thing I ever built, the house I currently live in. Then I understood that there was only one way this economic and political...
While sicknesses and death mount from the coronavirus pandemic, the responses by all levels of government have been overwhelming. School closings, business closings, cancellations of sporting events and concerts, “stay in place” orders, hysterical panic spread by the...
The natural response in the face of a pandemic like the one we are experiencing today with COVID-19 is to take immediate and direct action to curb the crisis. We are told we need to have extensive quarantines, citywide lockdowns, and shelter-in-place orders. We...
During a speech in Asheville, North Carolina, in 1902, Theodore Roosevelt proclaimed, “The government is us; we are the government, you and I.” Most people believe this. And it's a bald-faced lie. Fernandina Beach, Florida, shut down all of its public beaches this...
First, let's get the three principles for the post-COVID-19 world out there: If you think COVID-19 is fake, or not really scary, you don't know science and are an ignorant person. If you post cavalierly about frolicking socially with your friends, you have no empathy...
Momentous events usually leave strong memories on those who have lived through them, and those memories often become passed on to later generations in the form of historical interpretations of why and what had happened in the past. This has certainly been so in the...
[This article originally appeared on the American Institute for Economic Research website on September 12, 2017.] Critics of the free economy often complain that the market fails to “behave” as economic theory predicts. Hence the voluminous literature on “market...
