Government
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Government Siphon Targets Corporate Stock Buybacks
“This particular increase in the corporate repurchase excise tax seems unlikely to pass, but some form of it probably will in the future. When it does, another market function will have fallen prey to the unslakable thirst of the insatiable American state.” ~ Peter C. Earle
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Is the Debt Ceiling Lunacy?
“Unconstrained politicians are likely to authorize more borrowing than they should. The debt ceiling might provide a useful—if somewhat limited—constraint against excessive borrowing.” ~ William J. Luther
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Be Grateful that First Responders and Teachers Earn Far Lower Incomes Than Sports Stars and Hollywood Actors
“The fact that first responders and teachers are paid so little relative to professional athletes and Hollywood stars is a feature of our world and economy; it’s not a bug. This reality deserves our gratitude.” ~ Donald J. Boudreaux
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The Not-So-Great Depression Diet
“It’s a stretch to blame today’s obesity crisis on America’s second Great Reset – the vast legal and socioeconomic changes ushered in by the Depression, New Deal, and World War II – but it certainly started Americans down the wrong dietary path.” ~ Robert E. Wright
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The Age of Decline
“We enter the Age of Decline and find ourselves victims of our own success. History tells us that impoverished societies die by war and famine. Now we are learning that prosperous societies die by attrition.” ~ Antony Davies
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Supply Constraints and Inflation, Revisited
“The Fed was late to realize nominal spending was surging and failed to correct course promptly when it realized it had made a mistake. Prices are higher today—and will remain permanently higher—as a consequence.” ~ William J. Luther
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Efforts to Depoliticize the Fed Will Likely Make Matters Worse
“These efforts to increase Congressional oversight are unlikely to depoliticize the Fed. Indeed, they are likely to make matters even worse.” ~ Nicolás Cachanosky
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Should the Fed Stop Tightening?
“The Fed should stay the course. Putting the nail in the inflationary coffin is more important than hyper-calibrating a ‘soft landing.’ But it likely won’t be long before we’re done.” ~ Alexander William Salter
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The FOMC: To Pause or Not to Pause?
“Given uncertainties surrounding the unusual stimulus and the lagged effects of monetary policy, it would be prudent to hold the Federal Funds rate constant for a few months and see how the economy responds to recent policy.” ~ Gerald P. Dwyer
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The 1519 Project: An Antidote to Caricature?
“To suggest that the experience of slavery is a uniquely Black, or uniquely North American phenomenon does a great injustice to the Blacks and other North Americans who came before 1619.” ~ Paul Schwennesen
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Markets Aid Rhino Survival
“Exploring a free market approach to rhino preservation through village-managed property rights presents a clear option, similar to successful programs for elephants and tigers.” ~ David Gillette & Caroline Wright
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Headline Inflation Falls, But Core Inflation Remains Elevated
“At this point, it seems likely Fed officials will move forward with a 25 basis point hike. But how high they will push rates this year and how long they will keep rates high remain open questions.” ~ William J. Luther
