U.S. Economy

In a free market, short-term and long-term rates would move toward convergence. Fed interference with interest rates ensures that won't happen.

President Biden's nonsolution of partial "debt forgiveness" is in limbo, but the slow financial destruction that massive student loan debt is unleashing continues.

After following hyper-Keynesian policies for more than two decades, the Fed is about to create the conditions that Keynesians claimed were impossible: an inflationary recession.

Home price growth of the sort we've seen in recent years simply cannot be sustained without a continued commitment to easy money from the central bank, and it shows.

The average new home in America was still well over 50 percent larger in 2021 than in the 1960s. Yet in an age of declining affordability, governments won't let homes get smaller. 

Government economists "seasonally adjust" data in order to better respond with policy recommendations to deal with business cycles. The problem is that government causes the cycles.

Home price growth of the sort we've seen in recent years simply cannot be sustained without a continued commitment to easy money from the central bank, and it shows.

Our current deficit policy amounts to "Give me your wallet, and you will deal with the credit card balance later."

There are only painful options for bringing price inflation under control at this point, and that's all thanks to the Fed's creation of countless bubbles and malinvestments over the past decade. 

President Biden's nonsolution of partial "debt forgiveness" is in limbo, but the slow financial destruction that massive student loan debt is unleashing continues.