Once upon a time the Fed made profits and sent those profits to the US Treasury. It was usually billions …
No, We Cannot Afford to Fund Yet Another War
In a 60 Minutes interview over the weekend, host Scott Pelley asked President Joe Biden, “Are the wars in Israel …
Bidenomics Grade: F
HOW IT STARTED Move over, Reaganomics. President Joe Biden is attempting to usher in the era of “Bidenomics.” This economic …
Why China’s Electric Vehicle Subsidies Failed
China’s massive government subsidies of electric vehicles has been a disaster yet the Biden Administration is adopting the same failed …
RECESSION SIGNAL: WATCH TEMP JOBS
The prevailing orthodoxy among many observers of the economy right now is that the job market remains tight, and therefore …
Don’t believe Biden on inflation – Here’s the truth
ECONOMYNEWS ‘Very Little Keeping Down Prices Going Forward,’ Economist Says After Inflation Report Released An economist says “[a]s long as the Treasury …
What does the US credit downgrade mean?
Summary: Fitch Ratings downgraded the U.S. government’s credit rating from “AAA” to “AA+” on Tuesday, a signal that the agency no longer has …
Poland’s Recovery from Socialism
I was surprised to learn last year that Poland’s economy has out-performed China’s economy over the past three decades. Given the way free …
The Government versus the People, Kamala Harris Version
It is no surprise to libertarians that what is in the interest of the government might not be in the …
Inflation down but we’re sure not out of the woods yet
Inflation over the past 12 months has crashed to 3 percent in June according to the latest data from the Bureau …
What’s Wrong and What’s Right With Debt Ceiling Deal
President Joe Biden and Speaker Kevin McCarthy, R-Calif., announced a debt limit deal Saturday, with a vote expected Wednesday in the House of …
How to Make Sure the Housing Shortage Worsens
Failed attempts to implement rent control remind us there is really only one way to lower housing prices when there …
Are Food and Energy Excluded from Inflation Measures?
This week for Ask an Economist, I have another question from Dr. Overfield. His question is: “I would like to …
California says “screw it” and defaults
“The state should have taken care of the loans with the COVID money it received from the government in 2021,” …
The case for abolishing the minimum wage
Eighteen states impose minimum wages higher than the federal minimum of $7.25 an hour. Among the states, California’s $12 an …
You won’t believe how much interest is owed on the National Debt!
Gross interest owed on the $31.4 trillion national debt—that is, interest owed on both the $24.9 trillion publicly traded debt and …
HAPPENING: The Collapse of the Dollar Empire
The Soviet empire started to crumble around 1989. The time period between the forming of the North Atlantic Treaty Organization …
Economic Issues Are Causing Major Voting Bloc to Abandon Democrats
New data shows Black voters are moving to the right at the margins – and the economy under President Biden …
Biden is all wrong on the economy because sugar-high Keynes is wrong
by Dan Mitchell While speaking last week at the Acton Institute in Michigan, I responded to a question about the perpetual motion machine of Keynesian …
Yellen throws Biden Policy under the bus
Treasury Secretary Janet Yellen admits – in a squirrely way – that Biden’s two trillion in deficit spending is at …
Massie’s Science/Economics Class
A simple demonstration using iced tea reveals how printing currency erodes the value of a dollar and brings about inflation. …
2023 Bank Crisis: Where depositors are hostages
Despite taking action to put Silicon Valley Bank and Signature Bank into receivership under provisions of federal law in the …
Presidents get blamed for recessions on their watch no matter what,
By Robert Romano If anything has a knack of making presidents in otherwise commanding positions into one-term presidents, it is …
Biden’s Billionaire Bailout – Making sure the wealth transfer continues
WE have all now heard of the collapse of the Silicon Valley Bank (SVB) – the premier tech start-up funding …
Down the $1 Trillion Rabbit Hole With The Fed!
Amid a spectacular banking crash over the weekend, the Federal Reserve and U.S. Treasury have intervened to guarantee $230.6 billion …
Amid Big Tech Layoffs, Demand Still High for Foreign Workers With H-1B Visas. Something Doesn’t Add Up.
Economist Milton Friedman’s maxim that “nothing is so permanent as a temporary government program” applies to work visas that are …
Biden Keeps Making Claims About Economy That Just Aren’t True
President Joe Biden has gotten into a revisionist history habit. He has repeatedly claimed that he inherited an economic disaster. …
Social Security Benefits to be cut by one-fourth
A new Congressional Budget Office report projects an even more dire outlook for Social Security’s future than was previously calculated. Without action …
The US Government’s Debt-to-GDP Ratio Is Worse Than Greece’s Before the 2008 Crash (And It’s About to Get Worse)
President Biden on Wednesday pitched a new plan to Americans before a joint session of Congress: more spending. The just-released …
WHAT IT MEANS: Another 139,000 jobs lost…
…in the household survey for second straight month as 186,000 leave the U.S. labor force amid hiring slowdown. 139,000 fewer …