Which means governments can print or they can spend, but they can’t do both simply because production buys goods, services, and labor, not printed money. Markets are wise.

Money buys nothing, while products always and everywhere buy products. Which means governments that produce nothing can only spend insofar as they have taxable access to private sector production, not ...

I recently penned an article on “Money Supply Growth,” which elicited a very thoughtful response from Garrett Baldwin via Substack. He argued that labeling Federal Reserve operations as “money ...