Neither the Trump nor the Harris proposals indicate they have any idea of how to deal with stagflation. Instead, they call for more government intervention—Trump for tariffs and Harris for more individual and business taxes and for energy policies. Woe be to us!
By appealing to tariffs and other forms of economic regulation, Republicans have tossed aside any commitment to free market economics. Unfortunately, their program will lead to more economic stagnation, inflation, and runaway government spending.
With the US government engaged in out-of-control spending, we are looking at tax increases in the coming years. And even if Congress does not pass official tax hikes, we will see the government seizing wealth via inflation.
Politicians say "greedflation," and profits are what fuels rising prices, but the real culprit is fiat money creation fueled by the central bank.
A recurring myth among progressives is that the state can enforce "fairness." However, given that government cannot even effectively define fairness, one doubts that the state can "enforce" what it doesn't know.
A few years ago, the leftist publication The Intercept claimed that inflation only hurts the “one percent,” but is “good” for everyone else. The truth is much different, as the Fed’s inflationary policies have benefited the politically-connected crony class.
Politicians say "greedflation," and profits are what fuels rising prices, but the real culprit is fiat money creation fueled by the central bank.
While we experience the predictable economic consequences of bad economic policies, the two main presidential candidates seem to be competing in an unspoken contest to demonstrate profound economic illiteracy. Unfortunately, whoever wins in this contest, we lose.
The Fed promises a soft landing, but the fact that the Fed now plans to start cutting interest rates is one of the strongest recession signals we can get.
John Tamny and Jack Ryan get heretical about housing. They argue, in part, that owning a home comes with significant costs and may not be "worth it," however, individual consumers decide what costs they are willing to undergo and what is "worth it" for them.
