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At its recent summit, the BRICS economic bloc announced it will add six new members, including Saudi Arabia. Many people believe the growing influence of BRICS could ultimately dent Western economic power and undermine the dollar’s role as the world’s reserve currency. Many people frame the rise of BRICS as a battle between East and […]
The national debt has climbed to a staggering $32.7 trillion. In just the first two months after Congress reached a deal and suspended the debt ceiling for two years, the national debt surged by $1.2 trillion. And there is no end in sight.
Dishonest money is destroying our standard of living. What do I mean by “dishonest” money? I mean government fiat money that it can create out of thin air. This is inflation and it constantly eats away our purchasing power.
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.
