It’s time to start planning for what we’ll do when the current healthcare system implodes. As with many other complex, opaque systems in the U.S., only those toiling in the murky depths of the healthcare system know just how broken the entire system is…
The only possible output of a system lacking any discipline is self-destruction. Whatever is free is squandered. When water is free, it’s freely wasted. When electricity is free, there’s no motivation to use it wisely.The same principle holds true…
A funny thing happened on the way to a low-risk environment: loans in default (non-performing loans) didn’t suddenly become performing loans. If we had to summarize what’s happened in eight years of “recovery,” we could start with this: everyone’s been…
I found myself in agreement with Timothy Geithner’s recent assessment of systemic risk and the limits of regulation
Unless the Federal Reserve intends to buy up every dead and dying mall in America, this is one crisis that the Fed can’t bail out with a few digital keystrokes. Just as generals prepare to fight the last war, central banks prepare to battle the last fi…
Strip away the centralized power that protects and funds cartels, and prices would plummet. The mainstream narrative is “the problem is low wages.” Actually, the problem is the soaring cost of living. If essentials such as healthcare, housing, hig…
This is precisely what you’d expect of a self-serving elite that was desperate to cloak the unhappy reality that the relative few are benefiting immensely at the expense of the many. The core narrative of politics everywhere is progress, i.e. “moving f…
Independent enterprises are a source of political and financial independence–and any independent class is dangerous to the ruling elites. Just as the “war on drugs” criminalized and destroyed large swaths of African-American and Latino communities, th…