Fed keeps Fed Funds rate unchanged.
“the Committee decided to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent.” Click here for post-FOMC press conference.
MMT Is Wrong about the History of the Origins of Money
Proponents of Modern Monetary Theory (MMT) think that money is a “creature of the state.” They say that money is whatever the state says it is, and that this is instituted primarily through taxation. For them, money is “that which [the state] accepts at public pay offices (mainly, in payment of taxes).”
Inflation: Looking Beyond Aggregates
The conventional definition of inflation—as a sustained rise in the general price level, tracked through metrics like the Consumer Price Index—dominates economic discourse, reducing human behavior to statistical trends. Neoclassical and Keynesian models emphasize macroeconomic factors—money supply growth, demand shocks, or cost pressures—while largely ignoring the purposeful actions of individuals.
Zero-Sum Thinking and the Roots of Political Divide
Free markets and free minds must push back against the mercantilist and populist policies associated with current Keynesians; we must draw upon the foundational ideas of economists such as Ludwig von Mises, Friedrich Hayek, Israel Kirzner, and Murray Rothbard. These thinkers championed key principles of voluntary exchange, competition, and minimal government intervention, asserting that such a framework is essential for promoting economic prosperity and individual freedom, not to mention the great importance of the profit-and-loss system of the stock exchange.
Real ID Is Not About Keeping You Safe
Today, after nearly two decades of implementation and delays, the federal government’s new identification requirements for traveling by plane domestically or entering federal buildings technically go into effect. This federally-compliant ID card—known as Real ID—can only be attained with specific records and documents laid out by the federal government. It’s labeled by a black or gold star in the upper right corner.
Alberta says it could vote on separation from Canada next year
Unlike the US, Canada (at least on paper) recognizes a legal right to secession. Alberta gov’t now says it may vote on secession next year.
Trump keeps claiming gas prices are at $1.98 per gallon.
One of Trump’s more bizarre claims recently is that gasoline now costs less than $2 per gallon. As every casual observer knows, the price is closer to $3.
