?Bernanke’s Golden Dismount

There can be little doubt that Fed Chairman Benjamin Bernanke has been a very, very good friend to gold investors. However, some of those who have benefited from his largesse now fear that the recent selloff in gold indicates an imminent end to Bernanke’s...

?The Great Debt Shift

If one were asked to describe the major global economic changes that have unfolded since the financial crisis began, a good starting place would be the massive shift of debt from the private to the public sector. Attempting to arrest a deepening crisis, governments...

?Capitalism is Peaceful, Socialism is Force

Paul Krugman, the intellectual apostle of liberal-left socialism in the United States, recently wrote the following in The New York Times: “One side of American politics considers the modern welfare state . . .morally superior to the capitalism red in tooth and...

A Health Care Parable

Your wife is stricken with a terrible medical condition. Her insurance benefits just ran out. You need money for her treatment. You go to your next-door neighbor and tell him about your wife’s misfortune. You demand $5,000. Your neighbor is stupefied. Still, he...

?A Clueless America Approaches Bottom

I received a letter from a reader I’d like to share, in edited form: Hello Dr.Hurd, I have seen the decline of socialism in Poland. I was born in 1956 and left Poland in 1982 for good. I now live in Canada with socialized medicine, but that is changing because...

Self-interest versus Selfishness

[On his show] Rush Limbaugh was speaking about the “invisible hand” described by Adam Smith. It is not out of benevolence, Rush said, that your grocer sells you food. It is the grocer’s self-interest–his desire to feed his family–that motivates him. But, Rush quickly...

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