U.S. Economy

Politicians claim to support measures to make life more affordable for people, but the reality is that taxes are the number one expense for most people.

Mark Thornton asks whether precious metals are coiling for a breakout as fiat money, Fed policy, global flows, and market manipulation put pressure on gold and silver.

Fed Chairman Kevin Warsh has raised the Fed’s discount rate—to the chagrin of President Trump—but it is doubtful Warsh’s actions will be effective against inflation.

Mark Thornton traces today’s tangled web of paper money, debt, war, and AI malinvestment—from John Law’s Mississippi Bubble to the Fed’s latest distortions.

The Fed wants to keep interest rates low so the government can borrow on the cheap. But bond markets are driving up interest rates as inflation isn't going away.

Our economic future desperately depends upon entrepreneurs being free to act. Unfortunately, our ruling classes seem to prefer economic chaos.

Our economic future desperately depends upon entrepreneurs being free to act. Unfortunately, our ruling classes seem to prefer economic chaos.

With an election just six weeks away, we can count on the Federal Reserve to open the money spigots to bolster the economy. We will pay later—but we will pay.

Since fiat currencies, per se, are not redeemable for anything other than themselves, their very existence depends upon confidence.

Mark Thornton argues the AI data-center bond boom is the latest techno bubble—cheap-money malinvestment dressed up as a new era.