Biden administration cheerleaders such as Paul Krugman claim that inflation is under control and that unemployment is falling. The numbers tell a very different story.
There are so many parts of the Revolution, so many stages, and so many protagonists, that we are sometimes confused as to how to interpret it. Historians tend to explain the Revolution according to their predilections, or even their heroes.
Popular economic thinking holds that consumer spending is the most important driver of the economy. Actually, demand can’t exist without something first being supplied.
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.
