Tag Archives: credibility

Once “Prosperity” Falters, the Legitimacy of the Status Quo Evaporates

The citizenry of corrupt regimes ruled by self-serving elites tolerate this oppressive misrule for one reason and only one reason: increasing prosperity,which we can define as continual improvement in material well-being and financial security. The legitimacy of every corrupt regime … Continue reading

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Why the Fed Has to Raise Rates

A great many insightful commentators have made the case for why the Fed shouldn’t raise rates this month–or indeed, any other month. The basic idea is that the Fed blew it by waiting until the economy is weakening to raise … Continue reading

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