Every once in a while, the truth slips out of Federal Reserve Chairman Jerome Powell’s mouth.
Powell was on Capitol Hill this week addressing Congress. He continued to talk up the economy, but in a moment of honesty, tacitly admitted that the central bank is already engaged in extraordinary monetary policy, and confessed the Fed may not have the firepower to fight the next recession. During testimony before the House Financial Services Committee, the Fed chair conceded that the current low level of interest rates “means that it would be important for fiscal policy to support the economy if it weakens.”
Most Americans say the Constitution is important. Most Americans say it’s crucial for the government to stay within its constitutional bounds. But what exactly are the constitutional limits on federal power? How do we know?
Well, whatever you do, don’t ask a lawyer. Most of them know very little about the Constitution.
This week I went to the SchiffGold office.
Now, you might think, so? I mean, you run the SchiffGold website. What’s the big deal?
Well, it was a big deal because this was the first time I’ve ever actually been to the office. And it’s the first time I’ve met the SchiffGold crew in person.
If some guy was trying to talk you into buying gold, would the fact he was an ATF agent make you more comfortable with the transaction?
I’m just going to say upfront, my answer is an emphatic no.
My stepdad used to grump about everything being made out of plastic. This was a thing with him even way back when I was a little kid. “All these plastic toys… back in my day toys were wood and metal.” It really got under his skin when they started using plastic in tools. He called them “cheap” even when they worked every bit as well as the old, heavy tools of “his day.”
Well, he’d really go ballistic if he were alive today because now they’re making gold out of plastic.
Florida man…
Uh oh! You know something good is coming, right?
Here it is — Florida man refuses to pay for gold-plated steak he didn’t order, Salt Bae calls cops
Moving is awful.
I’m speaking from recent experience. We are in the process of moving from central Kentucky to northern Florida. I say “in the process” because you don’t just move. It consumes your life for months on end.
A paper by Scott A. Wolla and Kaitlyn Frerking for the Federal Reserve Bank of St. Louis warns that the Fed’s own policy could lead to “economic ruin.”
The paper titled “Making Sense of National Debt” explains the pros and cons of national borrowing in typical Keynesian fashion. In a nutshell, a little debt is a good thing, but too much debt can become a problem.
But in the process of explaining national debt, Wolla and Frerking stumble into an ugly truth — Federal Reserve money printing can destroy a country’s economy.
People spend a lot of money for headphones and earbuds. I totally get it. I’m a bit of an audiophile myself. There’s nothing like good music played through good-sounding headphones. But in my never-to-be-humble opinion, a lot of the high-end headphones are utter crap. This is because of the obsession with boosting the bass.
Hey! Whoever just said, “OK boomer,” I heard that! And I’m not a boomer. I’m an X-er. So turn up the Nirvana.
Fiscal 2020 started just like fiscal 2019 ended – with a massive federal budget deficit. And that has Federal Reserve Chairman Jerome Powell worried. In an ironic bit of political theater, Powell lectured Congress about the spending he helps facilitate.
The budget shortfall last month was 34% higher than the October 2018 deficit, coming in at $134.5 billion, according to the latest Treasury Department report. That starts fiscal 2020 off on track to eclipse a $1 trillion deficit.
