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There is more talk of student loan forgiveness. Supporters of these schemes argue that the whole system is inherently unfair, although they rarely talk about who would pay for student loan forgiveness. They also seem oblivious to the fact that the federal government created this problem to begin with.
With the impact of sanctions tanking the ruble, the Russian central bank announced it would buy gold from local banks at a fixed rate. The move had the desired effect. The ruble quickly recovered. But the Central Bank of Russia abandoned the de facto gold standard almost as fast as it implemented it. Why?
Everybody and their brother is an expert on inflation now. And everybody thinks they can pinpoint the reason for rising prices. It’s Putin! Or maybe it’s greedy corporations. Or was it COVID? As Ron Paul explains, it was none of the above. The blame for this inflationary fire falls squarely on the shoulders of Federal […]
The inflation freight train continues to barrel ahead. Not only are consumer prices at historically high levels; producer prices continue to run ahead of CPI, casting some doubt on the “peak inflation” narrative in the mainstream. Despite the fact that inflation has been running hot for over a year, the mainstream pundits, government officials and […]
The annualized interest payment on the $30-plus trillion US national debt increased by over $16 billion in just six months. With the COVID crisis seemingly in the rear-view mirror, the economy allegedly strong, and the Fed raising interest rates to supposedly fight inflation, you’d think this might be a good time for the government to […]
Last month, the Federal Reserve raised interest rates by one-quarter percent in its first salvo against rampant inflation. Fed Chairman Jerome Powell has indicated that the central bank will get more aggressive in its inflation fight in the coming months. Conventional wisdom holds that monetary tightening will reverse the impacts of the extraordinarily loose monetary […]
The Consumer Price Index hit a 40-year-high of 7.9% in February. Of course, it’s even worse than that. The official government numbers are rigged to understate rising prices. But inflation doesn’t just hit us with rising prices. In some cases, we pay more, but we get less. This is known as shrinkflation.
The Consumer Price Index data for February just came out. It was smoking hot yet again with prices up 0.8% month-on-month and 7.9% on an annual basis. Keep in mind, this was before the big spike in oil prices due to the Russian invasion of Ukraine. And inflation is even worse than the official government […]
Inflation is smoking hot. As measured by the consumer price index, the inflation rate is at 7.5%. And the cooked government CPI number understates inflation. Peter Schiff says the inflation tsunami is just getting started. The Fed is talking about an inflation fight, but it’s more likely to drive the US economy into a recession. […]
Another hotter than expected CPI print in January put even more pressure on the Federal Reserve to do something about inflation. Suddenly, there is talk of a 50 basis point interest rate hike at the next FOMC meeting. But “doing something” is is easier said than done, particularly in this zombie economy.
