Free markets’ last stand, by Alasdair Macleod

There’s a chance that parts of world may shift to free market models . . . but only after present models collapse and are completely discredited. From Alasdair Macleod at

The British government’s desperate dash towards free markets has failed, badly bungled. The establishment in Whitehall and Westminster is back and realigned with the international government consensus. The socialist wealth redistributors, the interventionists, and the anti-Brexit Remainers now formulate government policy. In Britain, free markets are dead. 

Citizens of other western nations should take note of these developments. The replacement of Kwasi Kwarteng as Chancellor of the Exchequer by Jeremy Hunt, an establishment man and deemed to be a safe pair of hands, is set to guarantee the continuing authority of the state over its electors. The underlying problem, that the electorate can no longer afford its government, is lost in the noise.

We must abandon any hope of a reversal of rapacious government policies that continually strip electors of their freedom and personal wealth. With a rapidly approaching financial crisis, which is now widely expected, the UK government will double down on its anti-market, anti-sound money policies. We can expect more price subsidies and price controls — paid for, of course, by yet more currency debasement.

It’s not just the UK. All advanced economies are approaching an endpoint in their governments’ anti-market policies. The global status quo can now only be challenged by markets. Rising interest rates, driven by collapsing purchasing powers of the major fiat currencies are bringing on that challenge, triggering a global financial and currency crisis. 

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