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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The headline is perhaps unfair to Mr. Biden; there is a lot of nuance we could and should consider to last week’s report on the the 1QTR gross domestic product initial release of -1.4%. As the BEA notes in its release: In the first quarter, an increase in COVID-19 cases related to the Omicron variant […]
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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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Conventional wisdom has certainly joined this Berean’s opinion that the next election is going to find the Democrats deeply underwater. We warned that inflation is one of those most sticky issues that everyone feels, and those that tolerate it pay the political price.* It’s not that we’re that great at political prognostication–it’s just that we’re […]
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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 Educated Vs. Consequences
26 Dec 2021
Once again, President Biden pushed back student loan payments due to the COVID-19 pandemic, this time until May 2022. As Omicron surges, the White House reversed course on its assurances that payments would not be deferred any longer. However, pressure from those who want all student debt cancelled appears to have won the day, so […]
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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 […]
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