The Fed

With inflation making workers poorer, and with midterm elections looming, Janet Yellen is doing damage control by arguing over the definition of "recession."

Forget Biden's claim that his government is "fighting inflation." His government is creating inflation, and in so doing robbing people of their savings and earnings.

Most economists see GDP as a snapshot of the performance of the economy. However, it is better understood as a misleading statistic which fails to accurately describe what really is happening economically.

"The commonly accepted theory that Fascism originated in the conspiracy of the great industrialists to capture the state will not hold. It originated on the Left."

The great credit expansion Alan Greenspan began thirty years ago has finally run its course. The Fed no longer can expand credit to fight the oncoming recession.

Mortgage companies and realtors are today's canaries. They're in deep trouble, and so are the rest of us. 

Rather than contributing to a "soft landing," raising interest rates will continue to destroy wealth.

Forget Biden's claim that his government is "fighting inflation." His government is creating inflation, and in so doing robbing people of their savings and earnings.

Keynesians believe that if government spends more, it creates wealth in the process because it is "creating demand." But only wealth generation can create demand for goods.

When Paul Volcker was Fed chairman forty years ago, he did what was necessary to bring down inflation. Unfortunately, the current Fed leadership at best is engaging in Volcker Lite.