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The Federal Reserve advertises itself as “independent” and above the political fray. We all know this isn’t true. The Fed is inherently political and makes decisions based on political calculations as much as economic data.
The Consumer Price Index (CPI) cooled in June. Year on year, the CPI increased by 3%. That was trumpeted as great news with some pundits suggesting perhaps 3% is low enough. It’s not.
People are confused about the definition of inflation. And because they don’t really know what inflation is, they can’t grasp what’s causing it. Or how to fix it. That’s why it’s imperative that we reclaim the meaning of inflation.
The US dollar is on shaky ground. There is a growing trend toward de-dollarization. Meanwhile, the Federal Reserve is tinkering with the idea of a digital dollar that could give the government unprecedented control over your spending. Given the trajectory of the dollar, it might be a good idea to find some alternatives. In other […]
The Federal Reserve has hiked interest rates to levels not seen since before the financial crisis in 2008. The money supply had contracted at a rapid rate. This should cause the economy to slow down. Yet month after month, we get strong job numbers, rosy economic headlines, and assurances that the economy remains robust. What […]
Every month, we get government job reports that tell us the labor market is booming. Then we get an avalanche of mainstream headlines telling us that this is a sign the economy is just fine. But these government job numbers simply don’t make sense.
With the passage of the Fiscal Responsibility Act of 2023, the fake debt ceiling fight is over. The federal government walked away from the deal with a shiny new credit card that has no limits. And what did we get? Spending “cuts” that actually increase spending and another great big tax increase.
We are in the midst of yet another debt ceiling fight. This is mostly political theater. That being the case, both Democrats and Republicans are using the drama in an effort to score political points and push policy in their preferred direction. And since politicians are involved, they’re telling a lot of lies.
Earlier this year, Saudi Arabia said it was willing to discuss trade in currencies other than the US dollar. This could mark the beginning of the end of petrodollar exclusivity. That would be a huge blow to dollar dominance. Ron Paul said historians may one day call this the most significant event of 2023.
The ink wasn’t even dry on the newly printed money to bail out the banking system before people came out of the woodwork to blame the failure of Silicon Valley Bank and Signature Bank on “deregulation.” But is the deregulation boogeyman really to blame? In a word, no!
