Consumers are long accustomed to getting whatever they want when they want it. The frenetic intemperance of having everything instantly and effortlessly defines consumer society. Manufacturers accommodate the immediate expectations by organizing seamless supply lines worldwide that get everything to its destination “just in time.” This world of instant gratification is breaking … Read more
With President Biden’s approval, the Centers for Disease Control (CDC) extended a “moratorium” on landlords evicting tenants until October 3, 2021. CDC Director Rochelle Walensky justified the measure by citing the quick spreading of the new Delta variant of the Covid-19 virus. She said that “This moratorium is the right thing to … Read more
We are used to thinking about COVID-19 as a health disaster. However, it is also an economic one. COVID suffocates the body by preventing air from entering the lungs. In a COVID economy, we have flooded the system with money and suffocated the nation with debt. The decrees of the Federal Reserve … Read more
Imagine getting up one morning and finding helicopters hovering over the neighborhood. They are showering down cash on the community. All one has to do is go and pick up an allotted amount. Such a prospect might seem too good to be true. However, in these chaotic times, it might become the … Read more
When the economy goes down, monetary theories start circulating. Since most people dislike austerity, today’s most popular theory is spending the nation out of its crisis. The popularity makes sense in a world where no one wants to suffer toward a solution. Magic solutions are much preferred, as all pain is thus … Read more
Reflecting on America’s present state, I could not help but think of a metaphor that I had used some years ago in my book, Return to Order. I had likened the economy to that of a cruise ship on a never-ending cruise. On its multiple decks, the bands were playing, the theaters … Read more
They are already calling the current pandemic-induced economic crisis, “The Great Depression of 2020.” The paradigm is, of course, the Great Depression of 1929 that substantially changed the world’s model of development, signaling the onset of State intervention in the economy (the welfare state). Analysts are also calling it “The Great Jump … Read more
The dynamics of postmodern economics defies the logic of times past. Everyone used to know that there is no such thing as a free lunch and that flawed financial acts always have consequences. Common sense dictates that national economies should function like home economies. People should not spend more than they make … Read more
In the fight against the coronavirus, most governments, including America’s, have enacted the Chinese lockdown model for industry. The plan shuts down all “non-essential” activities, lays off workers and expands government benefits and control of society. These massive one-size-fits-all programs deliver predictably inhuman and inflexible results, typical of communist governments. The problem … Read more
As the debate rages over stay-at-home orders during the coronavirus pandemic, most conservative opposition has focused on the damage to the economy, excessive government surveillance, or the massive increase in government debt. These are very valid and important concerns. But the coronavirus’s most enduring damage will not be a lower GDP, higher … Read more