The UAW's strike against US automakers will do long-term damage to the domestic auto industry. Unfortunately, unions and their advocates will learn nothing from this debacle.
President Biden says he is going to unleash regulators to bring more "competition" to the economy. This is an oxymoron.
Another Labor Day has passed with the same pro-union rhetoric dominating the media and politics. However, being pro-union is not the same as being pro-labor, especially given that unions often are the most anti-worker entities in our political economy.
While unemployment currently is low and the rate of inflation has fallen somewhat, Bidenomics is setting off a boom that is unsustainable. We know what happens next.
Since the end of World War II, the US dollar has been the world's reserve currency. That status may well change because US monetary authorities insist on inflating the dollar into oblivion.
Hollywood can create stories from thin air, but when the film industry creates malinvestments, there is a bust in the future.
In the global Ponzi scheme, thin air and deceit substitute for sound money. As hedge-fund manager Mitch Feierstein wrote in Planet Ponzi, “You don’t solve a Ponzi scheme; you end it.”
In the wake of bad news on inflation, the Federal Reserve is pushing up interest rates. However, a Fed-induced higher rate is not the same as an interest rate decided by the market.
As the US economy sours, look for a wave of new bankruptcies. The Fed cannot pull any rabbits out of its monetary hat this time.
