In early September 2023 we reported on the Producer Price Index, the PPI. This price statistic takes a back seat to the Consumer Price Index in media reporting and the policy-setting agenda. Back then we explained what it was and what it was telling us about the economy.
The weak GDP figure for the first quarter came with a double negative: poor consumer spending and exports, plus a rise in core inflation. The US administration’s enormous fiscal stimulus underscores the importance of considering the weaker-than-expected data.
A deceleration in consumer spending, a decline in the personal savings ratio to 3.6%, and poor exports added to a set of figures for investment that were also negative when we looked at the details.
For the first time in our nation’s history, 30 year olds are doing worse than their parents.
In other words, we killed the golden goose.
Last week, Professor Scott Galloway went on an epic rant on MSNBC laying out for his well-heeled hosts exactly what young people are going through right now.
A position that has gained popularity on the Left in recent decades is a push to redefine racism to prevent the term from encompassing racism against whites.
Private property rights are crucial to economic prosperity. Without them, it becomes impossible to set up a system of free markets that allows for rational economic calculation. Despite this, property rights are under attack in today’s world by progressives seeking to build a more “just” society through equity.
