UPDATE July 29, 2022: Is America going into a recession? After two-quarters of declines in GDP, it has that look. The NBER makes the final decision on what is and what isn’t a recession, but those designations are often made well into a recession or even after it’s over in some cases. Practically speaking, Americans […]
Full Effect of Rate Hikes Not Felt by Economy, Yet
Today, the Bureau of Economic Analysis released its advance estimate of second-quarter GDP and confirmed that the U.S. has had two consecutive quarters of contraction. Despite mounting evidence that the U.S. economy is entering a phase of economic weakness, Federal Reserve Chairman Jerome Powell says that the full effects of the Fed’s recent rapid rate […]
Strong Dollar Becomes a Shelter from the Tumultuous World
The dollar’s current status as the “least bad” currency continues to push its value higher relative to others. The euro and yen are both suffering from central bank policies that have kept rates low despite inflationary pressures. The Wall Street Journal’s Julia-Ambra Verlaine reports (abridged): After the U.S. currency’s strongest first half in over a decade, investors […]
Let Them Eat Cake
Upon being told that starving French peasants had no bread, the above phrase (many historians believe wrongly) has been attributed to Maria Antoinette. A biographer of the unpopular Queen explains why the phrase was so powerful: Bread was the staple food of the French peasantry and working class. About 50% of incomes went into obtaining […]
Biden’s Policies Aiding Russian Economy
On his website, LewRockwell.com, Llewellyn H. Rockwell, Jr. tells us how the Biden Administration, in an attempt to choke off Russia’s economy, has only aided them and hurt the American Economy. “Russia has seen record profits from its oil and gas exports since the beginning of the Ukraine war”, writes Rockwell. He continues (abridged): The philosopher […]
Demand for Vehicles Still Strong Despite High Prices
Despite high prices for cars and trucks, demand is still high, reflecting pent-up appetite for new vehicles that has been hampered by supply chain shortages. The Wall Street Journal’s Nora Eckert reports: A global shortage of microchips and low supplies of other auto parts continue to damp vehicle output, leaving dealership lots gutted and pushing […]
Dollar Strengthens as “Least Bad” Currency Today
As the Federal Reserve puts upward pressure on interest rates, the dollar is strengthening compared to other world currencies in areas where governments cannot, or will not, relieve savers from the punishing effects of ultra-low interest rates. Despite the Fed’s efforts, so far inflation is still raging. The dollar isn’t necessarily getting more valuable, it’s […]
Ron Paul’s End the Fed Puts America on Track
UPDATE June 16, 2022: The Federal Reserve, Chaired by Jerome Powell, has increased the Fed Funds Rate by 75 basis points, or 0.75 percentage points. This is one of the largest increases ever, and it is in direct response to the Fed’s own failure to mitigate potential inflation or even forecast its coming. Only months […]
Rents Skyrocket as New Yorkers Bring Their Money to Miami
The wave of New Yorkers migrating to Miami has had an unfortunate side effect on the city, that is, driving rents up to NYC levels. Deborah Acosta reports for The Wall Street Journal: Natalia Solar moved to a 49-story luxury tower in Miami’s Brickell neighborhood two years ago. She and a roommate paid $3,300 a […]
The Great Reset Disaster Ahead
Glenn Beck at The Blaze warns us to “prepare for impact”. He continues (abridged): We now know why Japan said it wants to be the first full adopter of the Great Reset: It’s about to enter an inflation “death spiral.” But because of how connected Japan’s economy is to America, the crash of the yen […]
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