The US Bureau of Labor statistics released new Consumer Price Index inflation estimates this morning, and the official numbers for June 2022 show that price inflation has risen to 9.1 percent year over year. That’s the biggest number since November 1981, when the price growth measure hit 9.6 percent year over year. The month-over-month measure surged as well, with the CPI measure hitting 1.4 percent.

In January 1956, the iconoclastic leftist American poet Allen Ginsberg wrote “America,” a prose poem that laments the state of the country and the poet’s place in it.

Competition creates service from businesses, and competition produces benefits for everyone. Neither are politics and ideologies exempt from competition, with Republicans and Democrats going door to door for their candidates, having political rallies, or even fighting in the streets. Despite this, these two parties aren’t as different as their supporters may realize. When Ukraine was invaded by Russia, they jumped on the opportunity for possible defense contracts.

Money supply growth fell again in May, dropping to a three-month low. May’s drop continues a downward trend from the unprecedented highs experienced during much of the past two years. During the thirteen months between April 2020 and April 2021, money supply growth in the United States often climbed above 35 percent year over year, well above even the “high” levels experienced from 2009 to 2013. As money supply growth returns to “normal,” however, this points to recessionary pressures in the near future.