AP Headline: ‘Higher jobless rates could be the new normal’

By: Steve Maley (Diary)  |  October 20th at 03:00 PM  | 

To a capitalist, the words “It’s different this time” are a notorious red flag. They’re usually uttered in the midst of a speculative boom, to explain why this boom is different from the last one that went disastrously bust. In a market driven by capitalist rules (supply & demand, creative destruction), they’re nearly always wrong. But in a centrally-planned system, where the government picks winners | Read More »