President Joe Biden steps up battles with big business as economic approval sags
With prices 20% higher than they were just a few years ago and confidence in the president’s management of the economy waning, the Biden administration and Democratic lawmakers are focusing all their energy on antitrust law ahead of the election. Democrats are trying hard to shift voters’ frustration with the economy onto the private sector, […]
US Economic Growth Plunges in First Quarter 2024
The release of 1st quarter 2024 Gross Domestic Product (GDP) on April 25th surprised virtually all forecasters. The first three months of 2024 were characterized by a notable deceleration in US economic growth, marking an almost two-year low. The same data release revealed that inflation, as measured by US GDP Personal Consumption Core Price Index […]
Democrats disagree over how to message Biden out of economic polling hole
Democrats are not entirely on the same page regarding President Joe Biden‘s economic talking points, with the economy poised to be the No. voter 1 issue of the 2024 election. Democrats disagree over how much Biden should criticize businesses for their contributions to increased consumer prices so he does not portray himself as anti-business and […]
Easy Money and Hard Economic Times
Editors’ Note: As the article below indicates, a new magisterial history of interest rates and central banking has been published. The author, Edward Chancellor wrote a previous book just before the last great financial crash called Devil Take the Hindmost, which was extremely timely if not prescient. This new book is extremely critical of current […]
Economic Truths, Perennially Forgotten
In 2021, Treasury Secretary Janet Yellen assured Americans that recent inflation was “transitory.” Back in 2017, Yellen, then Chairman of the Federal Reserve Board, hinted there would not be another financial crisis “in our lifetimes.” Maybe she got that idea from Morgan Stanley boss James Gorman, who in 2013 put the chance of a crisis […]
Neo-populism is a path to European-style economic stagnation
Neo-populism is a philosophy that pretends to be innovative and more economically efficient than free market capitalism. True believers in neo-populism are described as neo-populists. But on economic policy, they are much more akin to traditional progressives. They believe that they know how best to most efficiently allocate capital in an economy that approaches $30 trillion in […]
Our Smart but Stupid Economic Masters
A review of The Lords of Easy Money: How the Federal Reserve Broke the American Economy, by Christopher Leonard, Paperback Edition, Simon & Schuster Paperbacks, 2023, 373 pages. Your neighbors might object to you reading The Lords of Easy Money. That’s because it’s a book that will make you want to go outside and howl at the moon, given […]
Schumer’s Revived Border Bill Promises ‘Orderly’ Flood of Economic Migrants
Democrats are reinvoking Thursday’s Senate vote on a border bill that was rejected in February in an effort to blame Republicans for their unpopular economic policy of mass illegal immigration. Democrats are also using the debate to try to drown out the domestic immigration debate about the damage of President Joe Biden’s cheap labor immigration […]
Nearly 3 in 5 incorrectly believe US is in economic recession: Survey
A new survey finds that a majority of Americans incorrectly believe the country is in a recession. harris poll, done for the Guardianfound that nearly three in five respondents say the U.S. is in a recession, even though experts say there hasn’t been a single recession since 2020. Ta. A recession is defined as a […]
Without Economic Freedom, None of the Others Matter
[One Fine Spring Day, Over the Phone…] “Oh, and by the way, your background check says there’s a warrant out for your arrest.” This is not, mind you, the kind of thing one expects to hear updating teaching credentials in a very staid University bureaucracy. Nevertheless, there it was. “Oh?,” I retorted, a bit stunned. […]