VECKA 27
Torsdag
02
Juli
BT-annons
2020-06-18
photo


US will rise again
Free society offers flexibility and resilience that a centralized system lacks.

Klippt från tidigare utgåva av Göran Högbergs finanskrönika.

GURU CORNER
The lasting and far-reaching harms caused by this authoritarian precedent far outweigh those caused by the COVID-19 virus. The American people must decide for themselves how and when to reopen society and return to their daily lives.

The less agile and adaptive a society is, the more severe its impotence in a crisis. Thanks to an obsessive reliance on monetary policy to fix every problem, our society has increasingly abandoned innovation and productivity.

The US and the world will rise from this crisis. What the government has to do is allow it.

How can the Fed launch an “unlimited” monetary stimulus with congress approving a $2 trillion package and the dollar index remain strong? The answer lies in the rising global dollar shortage, and should be a lesson for monetary alchemists around the world. The $2 trillion stimulus package agreed by Congress is around 10% of GDP.

No matter what the situation, no one has the right to compel someone to act for another's benefit, and that includes forced quarantines, business closures, and expropriations of medical equipment in the name of "public health."

The Greeks haven't saved or produced enough to justify their high standard of living compared to other countries of the world. This is a fragile bubble economy made possible by European central bankers.

Many economists today think it's a bad thing when companies cut costs to increase profits. But this is a good thing that limits wasteful spending while setting the stage for more investment elsewhere.

Taiwan's response to COVID-19 mostly means self-imposed quarantines and more transparency. It's basically the opposite of what Europe is doing.

The idea that a free and mostly privatized society would let pandemics rage unchecked is based on a crude caricature. The truth is that a free society offers flexibility and resilience that a centralized system lacks.

The 2016 election was an important reminder that most experts were totally wrong in their predictions of what would happen. Now the experts are claiming that freedom and markets must be abandoned based on new guesses about the future.

The size of an entrepreneur's return on his investment is determined not by how much risk he assumes, but rather whether he complies with consumers' wishes.

 
Göran Högberg

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