Commentary When you hear the acronym ESG, do your eyes glaze over? If so, you are not alone. For some, ESG represents progress. For others, however, it’s nothing but a scam. Nevertheless, the ESG movement is picking up steam, with an increasing number of corporations jumping on board. According to Barron’s, the sister publication of…
The Dirty Little Secret of Central Bank Digital Currency
April 26, 2022
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banking systemBusiness & EconomyBusiness Columnistscentral bank digital currencyFederal ReserveOpinionUSDViewpoints
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President Joe Biden’s March 9th Executive Order gave “the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” or central bank digital currency. Unlike cryptocurrencies, such as Bitcoin, CBDCs—as their name implies—are issued by central banks and have a value equivalent to the denomination of…
The Failure of Central Banking: Central Bank Digital Currencies
Commentary Currently, central banks across the globe are drafting plans to issue their own digital currencies. Some, like the People’s Bank of China, are already experimenting with such monetary schemes. Many do not realize it, but digital currencies issued by central banks pose the greatest threat to economic and financial freedom we may have ever…
Welcome to ‘Bear Market Stagflation’ and a Crummy Economy
Netflix’s announcement earlier this week that it had lost 200,000 subscribers should sound a warning on the real costs to the economy of continuing high inflation. I suspect Netflix is just a canary in a coal mine; a warning of bad times for us all, not just binge-watching couch potatoes. With Consumer Price Inflation (CPI)…
China’s Economic Suicide: ‘Zero COVID’
April 22, 2022
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Business & EconomyBusiness ColumnistsChinaChina Business & EconomyCOVIDeconomyOpinionThinking About China
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News Analysis Chinese leader Xi Jinping has been adamant that he will maintain his “zero-COVID” policy even as it destroys China’s economy. By the first week of April, approximately 75 percent of China’s 100 largest cities, which account for over half of the GDP, have imposed COVID-19 restrictions. Shanghai’s draconian lockdown was the most widely…
Losing the ‘Cowed War,’ Thanks To Unpatriotic Businesses
“I know that I am leaving the winning side for the losing side,” Soviet spy-turned-anti-communist hero Whittaker Chambers famously declared, “but it is better to die on the losing side than to live under communism.” The kind of communism to which Chambers was referring is not quite what threatens the free world today. The Soviet…
Monetarism Disguises Primacy of Energy
Commentary “Fundamentally, debt is a claim on future money but, since money is itself a claim on the real economy, and hence on energy, debt really amounts to a claim on the energy economy of the future.… Energy returns have been declining for a long time, and I believe that growth in the real economy…
Housing: Poised for Trouble
Commentary For the moment, residential real estate seems to vibrate between powerful positive and negative forces. Their interplay will likely produce an uneven picture for the next few months. But in the fullness of time—say, late this year and certainly by 2023—the negative influences will predominate. The sector will suffer a correction, nothing like 2008…
Israel Is Mistaken About China
April 22, 2022
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Business & EconomyBusiness ColumnistsChinaGlobal ExpansionInternational RelationsIsraelOpinionSpecial TopicsThinking About Chinayuan
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News Analysis Israel is America’s longtime friend and ally. We have been through a lot together. And Israel is a rare democracy in the Middle East. So when Israel’s central bank recently made plans to downgrade the U.S. dollar in its reserves and introduce China’s yuan, it really hurt. Friends should not do this to…
If We Ride the Cantillon Wave, We Should Remember That We’ll Crash With It Too
Commentary My daughter sometimes surfs the bore wave that heralds the incoming tide at Turnagain Arm, Alaska. The wave, or waves, to be exact, can reach a height of 10 feet, but are usually smaller. Regardless of the size, the waves draw surfers from all over, each looking for the rush of riding a crest,…
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