While organized labor across Nigeria is currently jubilant over their recent win in obtaining a minimum wage increase by fiat, every student of praxeology in Nigeria receives this news with mixed feelings and the utmost reservation, because we are cognizant of the outcomes which inevitably follow from such interventions in the free market.
The Bureau of Labor Statistics (BLS) today issued a major downward revision in total employment, telling us what more savvy observers of the federal jobs data already knew. Namely, that the employment situation isn’t nearly as strong as the federal establishment survey says it is.
The establishment survey is the employment survey that looks at total jobs—whether full time or part time—and not at total employed people.
The New Deal has been a key driver behind how the Democratic Party justified its hold on political power in the United States. The precursor to the New Deal was the Great Depression, which, in the minds of many Americans, was triggered by the stock market crash in late 1929.
Lately, Donald Trump and his team have taken to labeling their opponent, Vice President Kamala Harris, as a far-left socialist—even a full-on communist. The strategy comes after an uncharacteristic lull in messaging from the former president and his team as they worked out how to prudently attack the vice president.
It’s the job of a presidential campaign to make people terrified about what’s in store for the country if the other side were to win. But there are several problems with labeling Kamala Harris a communist.
Democrat presidential candidate Kamala Harris is demonstrating why monetary debasement has always been a favorite way for government officials to plunder the citizenry. Rather than focusing on the Federal Reserve as the root cause of prices rising across society, she’s blaming rising food prices on grocery-store owners. Consequently, she says that if she is elected president, she’ll get a federal “anti-gouging” law enacted that prevents grocery stores from raising prices.
Popular discussions of inflation and the economy have produced more heat than light, if not heat and darkness. President Biden has made multiple remarks on his record, which taken singly are each incorrect. Taken together, Biden’s remarks on Bidenomics are incoherent.
