Governments in the US subsidize immigration through a bevy of welfare programs. The effect of subsidization is predictable: you get more of what you subsidize. This is true for student loans, ethanol, immigrants, and more.
Ryan and Tho are joined by Doug French to discuss the health of US banks, the specific dangers of commercial real estate debt, and the risks of industry consolidation.
In this week's episode, Mark takes a quick look back at Fed wisdom in the year 2000 versus 2024.
In a recent statement, the Federal Reserve declared that US banks are "sound and resilient," but a lot of markets, including real estate, testify to a very different situation.
The jobs report is only something to brag about if one's definition of a strong jobs economy is one in which fewer people have jobs, full-time jobs are disappearing, and government jobs are a growing component of overall job growth.
Social Security is headed for reduced benefits, and no amount of political rhetoric or even tax increases will solve that problem. The numbers do not lie.
Political and economic elites predicted a doomsday scenario when Trump was elected in 2016, but the reality of his presidency didn’t come close to matching the apocalyptic rhetoric that accompanied it.
Mark Thornton talks about the Federal Reserve's Reverse Repo Operations.
Government efforts to expand “aggregate demand” involve new spending and money creation. In reality, these activities destroy wealth in the name of expanding it.