Skyrocketing inflation, a historic Fed interest rate hike, rock-bottom unemployment, employers begging for workers—and just about everyone else scared to see what the stock market has in store tomorrow. It’s unclear whether the economy is just suffering from a case of monetary and fiscal policy indigestion or if something deeper is going on. Can the […]
President Joe Biden is taking victory laps for last year’s reduced budget deficit. No one would be happier than me to see this number fall in a significant way. But the decline has nothing to do with the president’s policies, and it changes little about the dangers of our fiscal situation. According to monthly reporting […]
Interest rates are now 1.5 percentage points higher than they were a few months ago. On Wednesday, the Federal Reserve raised interest rates by three-quarters of a percentage point, following a 0.5 percentage point increase in May and a 0.25 percentage point increase in April. Yesterday’s rate increase is the single biggest interest rate hike […]
Bitcoin is trading under $23,000 as I write this, which means the value of the world’s biggest cryptocurrency has lost about $45,000 per coin since last November, when it was at about $68,000. Though the recent slide in the price of bitcoin has sent many speculators scrambling back to fiat currency, it’s done nothing to cool […]
The Consumer Price Index (CPI) went up again in May. Over the last year, prices across the economy increased an average of 8.6 percent, up from 8.5 percent in April’s year-over-year reading. And yet, inflation might be starting to go down. The reason for the paradox is that CPI, which tracks price changes in a […]
Can bitcoin really become the world’s reserve currency if it doesn’t displace the dollar, the euro, or the yuan as an everyday medium of exchange? Why isn’t its price increasing as inflation rises to levels not seen in 40 years? What sorts of regulations—if any—would best facilitate the wide-scale adoption of bitcoin not just among […]
President Joe Biden wants you to know he is serious about taming inflation and that he has a plan to do so. Unfortunately, his plan reveals that his administration is either in deep denial or doesn’t understand the real cause of inflation. His proposal, therefore, is all but guaranteed to fail. Writing in The Wall […]
Gasoline prices just hit new record highs, and that’s just the tip of the iceberg, inflation-wise. As consumers know, but federal officials seem slow to admit, everything is becoming more expensive. And while the purchasing power of our money is expected to erode more slowly in the months to come, getting from here to there […]
In the first few weeks after taking office, President Joe Biden made a series of decisions that continue to have considerable influence on the American economy—which, naturally, has considerable influence on how the average voter views his administration. “Joe Biden’s administration has dedicated its first few weeks in office to spending more money on pandemic […]
If the recent slide in the price of bitcoin has sent many speculators scrambling back to fiat currency, it’s done nothing to cool the fervor of Robert Breedlove, a self-proclaimed freedom maximalist whose Twitter feed is filled with encomia for the inflation-proof monetary system that has a supply fixed via the consensus of a decentralized, […]