According to the popular way of thinking, our knowledge of the economy is elusive. Consequently, the best that we can do is to attempt to ascertain some facts of economic reality by applying various statistical methods on the so-called macro data.

For instance, an economist has a theory that consumers’ outlays on goods and services are determined by personal disposable income and the interest rate. (The personal disposable income and the interest rate according to the economist’ view are the driving variables of consumer outlays).

With Governor Kay Ivey’s signature on sound money legislation today, Alabama has become the second state this year to expand its sales tax exemption involving gold and silver.

Alabama Senate Bill 13, championed by Sen. Tim Melson and Rep. Jamie Kiel, passed with unanimous support out of the Alabama Senate and then passed unanimously through the Alabama House before making it to the governor’s desk.