The Biden administration in its desire to "save" the planet from climate change has decided to destroy one of this country's most productive and important industries in the process, putting the US economy itself in jeopardy.
It is theoretically possible that through huge gains in productivity, the US could escape inflation and stave off a recession. But don’t count on it.
Advocates of modern monetary theory promise a cornucopia of goods and jobs if only the government has the "courage" to print money at will. Sound economic analysis, however, exposes MMT as fraudulent.
Lenin called World War I a war among the capitalists of Europe. He was wrong. It was a war among oligarchs, statists who extract wealth from legitimate economic activity at the barrel of a gun.
Do the low inflation rates mean that the purchasing power of Japanese and Swiss citizens has increased relative to other countries over time? The answer seems to be no.
The Fed's unprecedented monetary expansion has created damage that it cannot undo by switching directions.
During February 2022, year-over-year (YOY) growth in the money supply was at 7.1 percent. That's up from January's rate of 6.8 percent, and down from the February 2021 rate of 39.1 percent. Growth peaked in February 2021.
Some blame high prices, wages, the Ukraine war, or the weak recovery. The fact is currency destruction is at the heart of generalized price rises everywhere.
Central banks, and especially the Federal Reserve System, continue to churn up inflation and the boom-and-bust cycles—in the name of "stabilizing" the economy.
Ukraine should have been a middle-income country by now. Instead, it is one of the poorest in Europe. If Ukraine joined the EU, it would be the poorest country and well below even Bulgaria.
