So notes CNBC yesterday. We’ve already highlighted the gross inequity of forcing people that never were a party to a loan to assume the payments of others (as in here, here, and here), in many cases people that make far less money than the beneficiaries of student loans, so I’m not highlighting that this morning. […]
Archives
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Headline: “Biden administration plans to make sweeping changes to ‘broken’ student loan system”
07 Jul 2022
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The Biden Administration has finally accepted some blame for the ongoing inflation that they helped fuel, and like a good soldier, Janet Yellen has taken the spear for her boss, President Biden. President Biden was obviously anxious to make good on a progressive agenda after his inauguration, pushing his major spending bills, and he pushed […]
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How far will the stock market fall?
21 May 2022
We’re in a bear market now, even if the S&P500 managed to claw above the oft-quoted 20% down definition on Friday. Importantly, the standard 20% off the highs is only the symptom of the bear market that rages. Bear markets emerge to bring reality to false expectations of the future. Low interest rates beget speculation […]
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Here at BATG, we took a long look at inflation in a series of posts back in the fall, and it’s still front and center in the public discussion. Yes, I blamed the Fed, but I’ve always blamed the Fed–price fixing never works, and the Fed is the ultimate price fixer. Yet there is now […]
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In response to higher gas prices, Elizabeth Warren is proposing a windfall profit tax on large oil companies, whose “greed” is exploiting an international crisis. Economics has this nasty little way of bringing reality into the conversation, as supply and demand will both have their day. Progressive hostility to fossil fuels, which has accelerated during […]
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Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the […]
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Biden Administration Inflation problem still growing; even the Washington Post is turning on them
12 Jan 2022
Today’s release of the Consumer Price Index (CPI) finally topped 7%, which is the highest rate since 1982, and if you applied the same index methodology used back in 1980, we have now slightly topped the 1980 experience. Yet the Biden Administration cannot acknowledge the reality of how their policies have led to this, as […]
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CNBC comes to this realization this morning, as it notes: The coronavirus pandemic has led to a new era of inflation inequality, economists warn, in which poor households bear the brunt of rising prices. That’s because a bigger portion of their budget goes toward categories that have spiked in cost. Food is up 6.4% over the […]
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The Federal Reserve will end its meeting any moment with the expected announcement of an accelerated curtailing of the extreme monetary stimulus it has provided since Mar 2020. The latest published speculation I’ve seen is that the Fed will end the stimulus by Mar ’22, paving the way for 2-3 interest rate hikes in 2022, […]
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As I related in the last blog post in this series, its seems likely we’re going to have inflation rates greater than the Fed’s goal in the near term (say the next couple of years)–if we don’t have some sort of economic collapse. I say the latter because when you have systematic debasement of the […]
Bert Wheeler
Jeff Haymond
Marc Clauson
Mark Caleb Smith
Tom Mach