Mainstream economists speak of GDP as though it is the economy itself, however, GDP is not a good measure of economic reality. Instead, it presents a distorted picture of genuine economic activity and leads to mistaken conclusions about the economy.
The total number of employed persons has fallen by 66,000 since August of 2023. Moreover, the new job growth is almost all in part-time jobs.
The Federal Reserve wants to be perceived as coming to the economy's rescue, but the Fed can't save you. Mark shares some insights from Austrian Business Cycle Theory.
Harris promises to reduce prices by printing more money, reducing competition, and attacking businesses. Welcome to the US version of Argentina's “Peronism.”
While Bitcoin and other cryptocurrencies can boggle the mind with their complex relationships, nonetheless, we are witnessing the development of a parallel economy that has sprung up in the wake of harmful government intervention.
A few years ago, the leftist publication The Intercept claimed that inflation only hurts the “one percent,” but is “good” for everyone else. The truth is much different, as the Fed’s inflationary policies have benefited the politically-connected crony class.
While we experience the predictable economic consequences of bad economic policies, the two main presidential candidates seem to be competing in an unspoken contest to demonstrate profound economic illiteracy. Unfortunately, whoever wins in this contest, we lose.
While Bitcoin and other cryptocurrencies can boggle the mind with their complex relationships, nonetheless, we are witnessing the development of a parallel economy that has sprung up in the wake of harmful government intervention.
Price inflation is never caused by greed. It's always caused by a growing money supply. The money supply has grown big-time since 2020, and now we pay a lot more for food and housing.
Neither the Trump nor the Harris proposals indicate they have any idea of how to deal with stagflation. Instead, they call for more government intervention—Trump for tariffs and Harris for more individual and business taxes and for energy policies. Woe be to us!
