America’s Problem with Consumerism Is the Government’s Fault
The child-like obsession with buying stuff that American society is often criticized for around Christmas is a sought-after result of our government’s monetary policy.
The child-like obsession with buying stuff that American society is often criticized for around Christmas is a sought-after result of our government’s monetary policy.
What a week! While the Trump administration has several issues for concern—the role of the Fed and tariffs, for example—there are some wins for liberty: Ross Ulbricht released, pardons for J6 offenders, declassified files, the TikTok ban postponed, exiting the Paris Climate accord and WHO.
It‘s obvious that a new influx of money will not immediately bring about changes in enough prices to significantly alter a price index. Even so, there are immediate effects of the new money.
Mainstream economists define “inflation” as general increases in consumer and producer prices. Yet, such a definition misses why prices increase in the first place and why inflation should be described as an artificial increase in the money supply.
Economist Jonathan Newman joins Ryan to discuss how deficit spending and runaway debt is causing price inflation and higher interest rates.
If we are to achieve peace, we must get rid of those entities that create havoc even while strengthening themselves politically. In a word, we need to get rid of the Fed.
While the US dollar still is the world‘s “reserve” currency, its abuse by the Federal Reserve and federal government has weakened it precipitously. While President-elect Trump recognizes the threats to the dollar, is he willing to do what needs to be done to change the situation?
Both Monetarists and Keynesians believe that a growing economy requires a growing money supply, thus, the Federal Reserve‘s “target” inflation rate of two percent. Austrian economists, however, understand that inflation at any level creates economic damage.
The Federal Reserve has welcomed the New Year by more of the same. As government spending continues to explode, the Fed enables it with its usual financial tricks.
The world is awash in debt bubbles, but politicians continue to spend, which requires even more central bank intervention—and more bubbles. Max Rangeley has edited The Age of Debt Bubbles, which details the dangers we face and how to stop the current madness.