Inflation

Janet Yellen admits she underestimated inflation, but she still does not realize that inflation is not higher prices, but the increase in fiat money that forces up prices.

Ryan McMaken joins Jeff and Bob for a hard look at the economic reality Americans face today.

Janet Yellen admits she underestimated inflation, but she still does not realize that inflation is not higher prices, but the increase in fiat money that forces up prices.

By late 2021, fueled by trillions in newly printed money, gasoline prices had surged to ten-year highs. Now, even in inflation-adjusted terms, gasoline prices are surging to new highs.

Inflation is raging and progressives want action. What kind of action? They want to return to the 1970s regime of price controls.

The buzz in Washington is that the Fed is "fighting inflation." But this is like an arsonist fighting the fire he started.

Year-over-year PPI growth came in at over 10 percent for the sixth month in a row. This will put more pressure on the Fed to "do something." 

Progressives believe that economies should be run by high-IQ "experts." But successful market economies require entrepreneurs with an idea and the willingness to face uncertain economic conditions.

During April 2022, year-over-year money supply growth was at 7.23 percent. That's down from March's rate of 7.41 percent and April 2021's rate of 36.8 percent.

The Federal Reserve is raising interest rates in hopes of reversing some of the inflationary damage it has done for more than a decade. Unfortunately, the Fed already has done incalculable damage to the economy.