During November, average hourly earnings increased 4.8 percent, year over year. But with inflation at 6.9 percent, earnings aren’t keeping up. Meanwhile, the Fed will do little for fear of spooking Wall Street.
Easy-money advocates who look to Japan as the model have not understood the fundamental reasons why inflation in Japan remained feeble during three decades of dismal economic performance.
Turgot understood primitive modes of social organization are able to support much smaller numbers of people. If population increased, an egalitarian primitive society would be unable to cope with the added burden.
The benefits of decentralization don't stop at the state level. State governments themselves must be broken up into decentralized confederations that allow for local vetoes, local sovereignty, and regional autonomy.
Joe Biden thinks that unless there's widespread government intervention in the economy, economic inequality "brews and ferments political discord and basic revolutions."
The huge amounts of monetary inflation of 2020 have indeed been translated into price inflation in 2021. Yet with the Fed now poised to slow things down, we might find asset inflation could suddenly go into reverse.
Easy money monetary policy only serves to weaken and destroy savings and investment. And that means weaker future economic growth.
A big factor behind Youngkin’s electoral success in Virginia: the rural voter and their reaction to Richmond's overreach on guns, schools, and centralized political power.
Tariffs and trade controls are little more than tax increases and a chance to further empower a bloated bureaucracy. Not surprisingly, Biden doesn't appear to be enthusiastic about embracing free trade.
Cronyism: when the government passes policies to benefit special-interest politicians, bureaucrats, businesses, and other groups at the expense of the general public.
