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Andrew Moran

Articles by Andrew Moran

There’s No End in Sight to the Zombie Economy

June 2, 2020

The United States was waiting for the zombie apocalypse. The country was given a coronapocalypse instead. But could the two events merge and provide the nation with a dangerous economic trend? Corporate America’s worst-kept secret had been the swelling number of zombies kept on life support and hidden away during the boom phase of the business cycle. Now that the coronavirus pandemic has exposed the fault lines underneath the economy, the zombification may accelerate due to a toxic concoction of Federal Reserve stimulus and congressional relief. Will zombies leave their graves, searching for freshly created US dollars and feasting on the carcass of the ailing marketplace?
The Walking Dead
A zombie company is a business that requires perpetual bailouts to keep its

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Crisis or Opportunity? To Politicians, It’s the Same Thing

May 16, 2020

Forget performing William Shakespeare’s Macbeth. The real art form is politicking. They sport taxpayer-funded windbreakers, speak with authority and urgency, and lead a brigade of specialists. When a crisis unfolds, whether it is a hurricane or a virus outbreak, politicians stand before the cameras, appearing to be in control of the situation—but they see an opportunity. As the catastrophe intensifies, the public recoils in fear and cowers before their dear leaders, amid uncertainty and upheaval. Does being a master performer transform a politician into an apotheosis?
The Deification of Politicians
Governors and mayors have been on top of the emergency response to the coronavirus pandemic since the very first confirmed cases were reported in their jurisdictions.

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Why Markets Are Rallying as Millions Become Unemployed

April 25, 2020

Wouldn’t you feel great knowing that your stock picking is fully insured by the Fed? Billionaires and wealthy hedge fund managers know the feeling.

This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros.
Original Article: “Why Markets Are Rallying as Millions Become Unemployed”

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Builders in Denial
The year 2006 seems like a lifetime ago. The housing boom seemed to be going full throttle, but danger lurked. I wrote on in March of that year, concerning a Las Vegas real estate seminar, that “nary a discouraging word was spoken.”

In an Age of Pandemics We Need More Freedom to Trade, Not Less
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Why Markets Are Rallying as Millions Become Unemployed

April 22, 2020

[unable to retrieve full-text content]The US economy is imprisoned, most of the population is under house arrest, and the inmates in Washington are running the asylum. And yet while the nation appears to be walking the green mile, investors residing in the Wall Street cell block have been extended pardons from the market gods.

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Europe Can’t Afford a New “Green Deal”

February 12, 2020

Today’s brand of the left-leaning politician is all about substituting what sounds good for what actually works. Modern politics, whether in the US or Europe, is about taking a chainsaw to everything that produced even a modicum of success to appease the deities espousing progressive orthodoxy. There is no better example of this than fossil fuels, an energy source that has lifted us out of destitution and darkness, and given us incredible wealth that the world had never witnessed. What is the Left interested in doing? Using confiscation, cronyism, centralization, and coercion to combat climate change. The European Union will achieve these objectives through the boondoggle-in the-making Green Deal (GD).
What is the Green Deal?
The European counterpart is a bit

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California’s Anti-Self-Employment Law Is Already Crushing Freelancers

January 20, 2020

In 1971, Isaac Asimov wrote an extraordinary novel, The Gods Themselves, about a machine that generates unlimited energy for free, defying the fundamental economic principle known as scarcity. It is later learned that the Electron Pump is originating from a hole in space that connects parallel universes. Doomsday is nigh as it is discovered that galaxies will soon be destroyed and that the sun will metastasize into a supernova. The crux of the story is comparable to what is transpiring in California.
State lawmakers possess an infinite source of good intentions, using the eternal supply to pave roads to hell. Wielding the power of this limitless benevolence and munificence, politicians are regulating the lives of citizens while eviscerating their existence in the

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The US Economy Is Being Japanified — Thanks to the Fed

December 17, 2019

Japan has not recovered fully from the lost decade of the 1990s. The Asian financial crisis was exacerbated by the dot-com crash and then a few years later the global economic collapse. Tokyo has tried everything to combat anemic growth and deflation, and resolve the zombification of the Japanese economy through an immense buildup of government debt and a dramatic loosening of monetary policy, including subzero interest rates. This has become known as Japanification. In recent years, Europe has seen its own Japanification, and now it looks like the United States could mirror it, too.
Inflation Expectations
This past summer, Federal Reserve Chair Jerome Powell rejected unsound advice from some of the world’s top economists when he dismissed a proposal to raise

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