While price inflation has eased modestly from its peak, Americans are still dealing with rapidly increasing prices, and that is squeezing their pocketbooks. And of course, the pain falls disproportionately on the working poor and people living on fixed incomes.
As Ron Paul explains, rising prices and a more aggressive IRS mean servers in the restaurant industry are getting hit with a double whammy.
Any suggestion of returning the monetary system to a gold standard is immediately met with howls of protest. “It’s impossible!” were told.
But Bettina Bien Greaves who was a translator, editor, and bibliographer for economist Ludwig von Mises’ works argues that there is no practical reason we couldn’t return to a gold standard. The objections are almost all ideological. “If this basic obstacle could be overcome, however, a return to gold money would become a realistic possibility,” she wrote.
Virtually everybody agrees that government spending is necessary to support the economy and society in general. We may debate vigorously about what exactly the government should spend money on, but few people will entertain the thought that maybe the government shouldn’t spend money at all. Most fail to even acknowledge that even the best government spending comes with a cost.
The fake debt ceiling fight is on and the Biden administration has ratcheted up the scare tactics. One of its strategies is to make you think the world will collapse if the US defaults on its debt obligations. After all, the US always pays its bills on time — so we’re told.
A default would certainly be problematic. But despite what you’re being told, it’s not unprecedented. The US government has defaulted before.
Most people believe the Federal Reserve stabilizes the economy and our money. In reality, the central bank incentivized debt and destroys wealth. Is there a way to sidestep the destructive forces of central banking and fiat money?
T.W. Thiltgen believes there is a freedom train we can escape on — gold.
There is a relentless push to raise the minimum wage, both at the state and national levels.
Minimum wage advocates somehow think that their wishful thinking can override basic economics. But no matter how much they tell you otherwise, supply and demand are a thing. Raising the cost of labor will mean less labor employed, all other things being equal.
But every so often, we get an economic study that claims basic economics has been overturned.
Fight!
The kids are throwing punches in the halls of Congress and there doesn’t seem to be a responsible adult willing to step in to stop it.
We’re talking about the debt ceiling fight that kicked off last week when the US government bumped up against its statutory borrowing limit.
We talk a lot about the Federal Reserve. Its policies have a significant impact on the economy and it moves markets week after week. For instance, over the last year or so, the Fed’s “inflation fight” has created headwinds for gold and silver.
But what exactly is the Federal Reserve?
During the pandemic, we got trillions of dollars in stimulus. The Federal Reserve alone pumped nearly $5 trillion into the economy. People gobbled up those stimulus checks, but there is no such thing as a free lunch. Now we’re paying for those stimmy checks with rampant inflation that is morphing into stagflation.
As Peter Schiff has said, “Every dollar that the government spends must be paid for by the public, one way or another.”
Jerome Powell still insists the Federal Reserve can beat inflation while bringing the economy to a “soft landing.” But there are underlying issues in the economy that make it extraordinarily doubtful that the economy can avoid a major downturn – despite Powell’s claims to the contrary.
One of the biggest problems facing the Fed is the amount of debt in the global economy.
