Forget Vegas sports betting for reckless speculation. When the Fed officials make projections, the markets assume they are accurate. However, as Jerome Powell himself admits, forecasts are speculative at best.
When covid restrictions were at their tightest, many people died alone in ICUs, as friends and family were kept away in the name of "public health." A more accurate assessment of the policy is to call it barbaric.
As family life descends into crisis in the USA, many conservatives call for state intervention to "fix" things. It's state intervention that created the problems in the first place.
The rioting in France is not due to racism nor is it the logical end of immigration. Instead, it is rooted in France's minimum wage and other labor restrictions that lead to unemployment and resentment.
The DOJ claims that it has "protected" consumers by standing in the way of a partnership between JetBlue and American Airlines. The only thing the DOJ protected was higher-cost flying.
While FedNow seems benign, there is the larger problem of the entire banking system itself being built on a foundation of sand. FedNow can only make that problem worse.
The latest round of wildfires in Canada has brought out the usual statist demands that we ban fossil fuels, but in the real world fossil fuels protect people from climate-related disasters.
Despite the soothing hot air from the White House and Fed officials, the financial system is becoming increasingly fragile and unstable. Maybe all of that intervention the past decade was not wise.
