Nature is simply the environment on earth in which...
Murray Rothbard Quotes
Nature is simply the environment on earth in which man finds himself, and to treat it as a separate being in the image of man is sheer nonsense.
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John Kenneth Galbraith
The job of the Central Bank is to worry.
The increase in inequality in income is a longtime trend, but the pressure on middle- and low-income workers is going up rapidly. Especially if they live in an area where there are high housing and gas prices, like California.
It's a technical, fairly difficult job that has no particular political connotations, so I doubt there are any big campaign contributors dying to be on the Fed. And remember, it doesn't pay very well, certainly by Republican standards.
Because tax cuts create an incentive to increase output, employment, and production, they also help balance the budget by reducing means-tested government expenditures. A faster-growing economy means lower unemployment and higher incomes, resulting in reduced unemployment benefits and other social welfare programs.
People can also change the timing of when they earn and receive their income in response to government policies.
I think the inflation prospects for the U.S. over the next five or six, seven years, are quite serious. You cannot have a bumper crop in apples without the value or the price of each apple falling. The Fed has had the largest increase in the monetary base in the history of the U.S., from colonial times to the present, times ten.
And you can't have a prosperous economy when the government is way overspending, raising tax rates, printing too much money, over regulating and restricting free trade. It just can't be done.
The truth of the matter of is that stimulus money not only doesn't stimulate; it actually reduces output.
The income effects in an economy always sum to zero.
Government spending is taxation. When you look at this, I've never heard of a poor person spending himself into prosperity; let alone I've never heard of a poor person taxing himself into prosperity.