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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Showing posts with label deficit spending. Show all posts
Showing posts with label deficit spending. Show all posts
Sunday, May 17, 2026

Stagflation Part 6: The Banking System Under Siege—Bond Selloffs, Liquidity Illusions, and the Coming Balance Sheet Reckoning

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   Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they...
Sunday, April 26, 2026

The Anatomy of Philippine Stagflation: BSP Rate Hikes, Record External Deficits, and Fiscal Expansion (Part 3)

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  What we have here is the Keynesian error that inflation cannot emerge while widespread excess capacity exists. Underpinning this error are...
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