Next week, New York City voters almost surely will send self-proclaimed socialist Zohran Mamdani to Gracie Mansion, and he promises to impose several policies aimed at allegedly lowering the cost of living for New Yorkers. Like his progressive and socialist predecessors, Mamdani’s policies will fail spectacularly, but not before doing enormous damage to the city—something that neither he nor his supporters will acknowledge.
The Fed’s Federal Open Market Committee has cut the target interest rate five times since September of 2024, and, not surprisingly, CPI inflation has increased every month for the past six months.
According to the September consumer price index report, released last week by the Bureau of Labor Statistics, price inflation rose 0.3 percent in September, month over month.
U.S.-led regime change in Venezuela would worsen the problems Trump promised to fix.
Link: https://www.theamericanconservative.com/dont-do-it-mr-president/
“the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent.”
Unless members of Congress intervene to prevent it, the food stamp program—also known as the Supplemental Nutrition Assistance Program (SNAP)—will be suspended beginning November 1. If the federal partial “shutdown” ends before then, the program will likely send out the usual billions of dollars to the nation’s 41 million recipients on schedule.
Needless to say, lobbyists and activists who favor the food stamp program have been working furiously to make sure that the program is not interrupted.
On October 9, zerohedge.com once again hosted a debate between libertarian financial author and podcaster Peter Schiff and pro-tariff author Spencer Morrison.
Philipp Bagus has just published a blog post in which he explains “what would have happened to the demand for pesos if Javier Milei had closed the central bank on his first day in office.” He argues that such a closure would have reinforced the strongly inflationary tendencies that prevailed in Argentina when President Milei took office. He states:
