While court economists such as Paul Krugman insist that inflation is government's way of ensuring full employment, in reality, inflation is one of the many ways governments steal from productive people.
As the US economy sours, look for a wave of new bankruptcies. The Fed cannot pull any rabbits out of its monetary hat this time.
The affordability crisis is upon us. Housing, food, you name it, life is becoming expensive. The government blames business, but perhaps government officials should look in the mirror.
Andreas Granath joins Bob to discuss his recent article explaining the different definitions of "inflation" and why it matters.
Forget Vegas sports betting for reckless speculation. When the Fed officials make projections, the markets assume they are accurate. However, as Jerome Powell himself admits, forecasts are speculative at best.
The common belief is that inflation is the general rise in consumer prices. However, rising prices are a symptom of inflation, which really is expansion of the money supply.
Alex Pollock explains to Bob the mechanics of the Fed's current insolvency and its implications for ordinary Americans.
If we read between the lines, it is apparent that the Fed is hoping that price inflation will fall to politically acceptable levels without any additional tightening, and without a recession. But "hope" is all the Fed has.
With the creation of the Federal Reserve in 1913, the American people began their new "partnership" with the federal government. The results were wars, inflation, and currency debasement.
