Earnings peaked in 2014. Then how did the stock market go up 40% more? Zero Interest Rate Inflation
It is no longer absurd to think that the nominal yield on U.S. Treasury securities could go negative.
I review the book by R. Nelson Nash, L. Carlos Lara, and Robert P. Murphy. The banking system cannot be reformed, but you can secede one business and one family at a time.
Liberty Lesson today teaches Tariffs and History of Tariffs with the help Mises.org . Tariffs don't have the desired effects. The inefficient industry get rewarded and the efficient industry gets smaller, and the consumer pays the price.
Henry Hazlitt, one of Bastiat’s greatest modern expositors, puts it even more clearly in the context of the tariff controversy:
"The effect of a tariff, therefore, is to change the structure of American production. It changes the number of occupations, the kind of occupations, and the relative size of one industry as compared with another. It makes the industries in which we are comparatively inefficient larger, and the industries in which we are comparatively efficient smaller. Its net effect, therefore, is to reduce American efficiency, as well as to reduce efficiency in the countries with which we would otherwise have traded more largely."