The Federal Reserve claims to know the “neutral” rate of interest, as though these things can be known administratively. Either interest rates are set by the market or done by fiat; it cannot be both simultaneously.
How the Israel-Gaza war ends is easy to imagine because it's following a path that has been trod many times before. We've seen it many times during conflicts between settler populations and indigenous populations worldwide
"Effective altruism" has become a buzzword with modern progressives who seek to combine state power and billionaire-funded nonprofits to redirect resources.
Those who defend the science fiction fallacy of MMT say that if the government cuts the deficit, then the world will run out of US dollars and there will be a global monetary meltdown. This is so ludicrous that it should not even have to be discussed.
Niccolò Machiavelli, who often is criticized for his views on using political power, understood the dangers of unchecked government spending. Perhaps our own political leaders should read "The Prince."
Although there has been excitement and fanfare over the recent BRICS meetings and proclamations, it is doubtful that these economies’ performance can match their rhetoric.
Fed policymaking is all about political expedience. When we see Fed policy, we must keep in mind that "managing the economy" is secondary to managing public debt service and public expectations.
As the national debt explodes and the federal government ramps up borrowing and spending, borrowing costs increase as well. Ordinary Americans will suffer the effects in due time.
