States have been going bankrupt since we created them. What does that have to do with the currency or their sovereignty? Stop with the Chicken Little story. And this is not Maya. [...]
The World’s New Middle Class
Globally, the world is steamrolling towards a higher standard of living. It is estimated that roughly 2 billion Indian and Chinese peoples are moving into what we would consider the Middle class. Unsurprisingly, as people gain disposable income, they all yearn for the same things; electricity, indoor plumbing, a car if they can get one, more meat, and labor saving appliances. [...]
Free Trade is Good. Protectionism is bad.
The Club for Growth sponsored 1,028 economists from all 50 states to pressure congress not to enact protectionist policies against China. Congressional Democrats have been rattling their sabers for months now with any number of restrictive trade policies. If enacted, what would be the outcome? [...]
Globalization or Isolation
Let's say you live in Chicago. And I tell you that you can not buy anything from anyone who didn't go to your high school. What kind of life do you think you'd have, compared to the one you have now? What about if you could just buy things from Chicagoans, or better yet, people who live in Illinois? What kind of life would you have now? But wouldn't you prefer to be able to buy things from all over the world? [...]
