The current job market strength partly reflects the ongoing monetary overhang from years of breakneck growth in money-supply inflation. The $6 trillion in money that was newly created since 2020 is still very much a factor.
It's popular for politicians to claim they will never cut Social Security. But doing nothing now about the program means imposing an even larger hit on seniors in the future.
As the Fed "fights inflation" by increasing interest rates, its actions will not produce the hoped-for "soft landing," but rather the hard bust.
People are making painful adjustments. What will the Fed do?
While the Biden White House claims we are on a steady course of prosperity, the more realistic future is that of a global recession.
Recorded in Tampa, Florida on February 25, 2023.
Opponents of "national divorce" like to claim that red states would be broke without a flood of money from wealthier, productive blue states. It's not true.
