Martin Hutchinson

1 month ago | tbwns.com | Martin Hutchinson

Ever since the Bretton Woods exchange rate system ended in 1971, the world has used exchange rates between most currencies that float freely. After 54 years, we can surely say this has not worked; the dollar price of gold, the truest indicator of real inflation, is approaching 100 times its $35 Bretton Woods price. The theft of Russia’s currency reserves in 2022 also shows that the dollar is an international means of exchange that cannot be relied upon, being controlled by fallible politicians.

1 month ago | tbwns.com | Martin Hutchinson

CDU chief Friedrich Merz’s economically suicidal net-zero constitutional change in the Bundestag and the recent spate of anti-capitalist legal judgements in Britain and the U.S. highlight the alarming rise in economic illiteracy not only in the legal profession, but among politicians, journalists and pundits in general.

1 month ago | tbwns.com | Martin Hutchinson

Canada’s prime minister Mark Carney flew to London last week for talks with Britain’s Kier Starmer, both of them upset about President Trump’s aggression, populism and protectionism. Starmer’s immediate instinct, to snuggle ever closer to the corrupt rotting carcass of the European Union will do Britain no good, nor will Carney’s instinct to create a global socialist authoritarian uber-state achieve anything for Canada.

2 months ago | tbwns.com | Martin Hutchinson

Those still supporting globalist free-trade high-immigration policies are accused of “Zombie Reaganism,” though that policy mix is more Zombie Bushism, derived from the gimcrack “Washington Consensus.” Now Zombie Reaganites, notably Dan McLaughlin of “National Review” have accused President Trump’s followers of “Zombie McKinleyism” – support of high tariffs and protectionism generally — and suggested they hanker after the policies of the 1890s.

2 months ago | tbwns.com | Martin Hutchinson

The Atlanta Fed’s advance estimate of Gross Domestic Product for the first quarter has recently turned sharply negative, to caterwauling glee from the usual suspects in the media and the Blob. Their rapture is economically irrational; GDP was deliberately designed to include government spending, thus flattering orgies of waste such as the Biden administration. It is far past time to turn to Gross Private Product, a measure that reflects only those outputs with measurable value in the market.