On Saturday, El Salvador’s president [Nayib Bukele] shook the Bitcoin world by annou

Vice President Kamala Harris visited Guatemala earlier this week to bestow millions of dollars in new foreign aid on that government. The Biden administration is pretending that giving more US tax dollars to Central American governments will miraculously reduce the surge of illegal immigrants that Biden’s appointees are welcoming in Arizona, Texas, and elsewhere.

Throughout much of human history, a political ruler was often considered to be only as good as his ability to distribute gifts, booty, and other material rewards to his most valuable and loyal servants.

In the “barbarian” days of northern Europe, military men expected their kings to lead them to booty, and to distribute gifts to the best fighters after the battle was won. In later ages, the more powerful kings could dole out titles of nobility, lands to faithful servants, and bureaucratic offices with hefty salaries to trusted advisors. 

One of the arguments most used by central banks regarding the increase in inflation is that it is because of bottlenecks and that the recovery in demand has created tensions in the supply chain. However, the evidence shows us that most commodities have risen in tandem in an environment of a wide level of spare capacity and even overcapacity.

The first thing any economist should do when reading a budget proposal is to analyze the basic macro assumptions and the results presented by the administration. When both are poor, the budget should be criticized. This is the case of the Biden Budget Plan.

Same growth, a lot more debt and less employment.

According to the administration, the impact on growth of this budget will be negligible, as their own—and optimistic—estimates see no change in the slowdown of the US economic growth trend.

“If the market continues to see wild swings based on Elon Musk tweets, it’s going to be a big setback for this asset class,” Matt Maley, chief market strategist for Miller Tabak + Co. told Bloomberg. “The fact that it sees such wild swings to the tweets from one person takes away the legitimacy of the asset class.”