Money out of nothing is money that is eventually worth nothing.

The Fed is pushing a variety of workarounds that would inject trillions in new money into the economy while bypassing the banking system altogether. Time will tell whether or not this will succeed. Meanwhile, a serious danger lurks around the corner. Once the recession is over, the lending will start again. With fractional-reserve banking and limitless supplies of cash on hand, we will likely see the overall price trends reversed, from deflation to inflation to possible hyperinflation.

Libertarianism is a theory of politics that is so compelling that once you have absorbed it, it becomes the lens through which you end up understanding all economic and political events.

Without market prices for capital goods, accounting is not possible. You don't know if you are making money or losing money, saving resources or wasting them, doing the right thing or not doing the right thing.

It is not caving in to the bees to stop poking a stick into their hive.

The laws of economics tell us that the expansion of the central state can't go on forever. Its limit is reached when the looted turn on the looters.

The people and the warmakers are two distinct groups. We must never say 'we' when discussing the US government's foreign policy. For one thing, the warmakers do not care about the opinions of the majority of Americans. It is silly and embarrassing for Americans to speak of 'we' when discussing their government's foreign policy, as if their input were necessary to or desired by those who make war.