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Money and Banks
In its effort to patch together a working financial system out of postwar crises, the Federal Reserve would wildly exceed its mandate, flooding the world with dollars.
Friday's jobs report was weak, but the most alarming datapoint is that real wages are plummeting.
Yet again, earnings aren't keeping up with inflation, and the Fed is feeling political pressure. But can the economy survive any serious move toward ending massive stimulus?
Any discussion of money and banking in the United States post-1945 starts with introducing its two central features: the Bretton Woods System and the New Deal.
Thanks to vast regulatory powers, regimes have many tools and many advantages in propping up fiat currencies when faced with competition from other currencies.
War and Foreign Policy
Trust in the US military has plummeted according to a recent survey, and conservative Americans may finally realize that the military is just a wing of the woke, progressive American establishment.
Since GDP is expressed in dollar terms, the so-called real GDP fluctuations are in response to the fluctuations in the quantity of dollars pumped into the economy.
After many months of covid stimulus, there's a bonanza in US pandemic profits. But unlike price inflation, these profits really are likely to be transitory.