Commentary After a long period of being low and even negative, inflation is now higher than it has been in almost 40 years. Though still well short of the twin peaks of 1975 and 1980, it is the fifth-highest rate recorded since the end of WWII, and it is still rising. But it ain’t your…
European Environmentalists Have Made Energy Independence Impossible
April 5, 2022
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Commentary Europe is not going to achieve a competitive energy transition with the current interventionist policies. Europe does not depend on Russian gas due to a coincidence, but because of a chain of mistaken policies: banning nuclear in Germany, prohibiting the development of domestic natural gas resources throughout the European Union, added to a massive and expensive…
Is a Recession Coming in 2022 or 2023?
Commentary Many believe that by year-end the United States will be in a recession. On March 31 both the 2-year and 10-year Treasury yields inverted, which is typically a signal that a recession looms ahead. While an inverted Treasury yield certainly creates a large ripple effect amongst economy watchers, the vast amount of money printed…
Biden Admits That Sanctions Don’t Work and They Make Us Poorer
April 4, 2022
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Commentary President Biden on Thursday made two big admissions about the U.S.-led economic sanctions on Russia. The first is that the sanctions will lead to food shortages for many countries other than Russia and that this is simply the price that Americans ought to be forced to pay. The second admission was that sanctions haven’t worked to…
Property Developer Meltdown in China
April 1, 2022
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News Analysis China’s big property developers are increasingly weak, and through the pressure of local officials, unloading risk onto the country’s financial system and Beijing itself. Business news about China’s property developers on March 29 demonstrates multiple new fissures and risks in China’s already lagging economy. The Financial Times revealed that the West’s Big Four…
Jobs Report Likely Signals a Likely Half Point Rate Hike at May Fed Meeting
Commentary The March jobs report printed at 431,000 new jobs, below the consensus estimate of 490,000. That’s down from the blockbuster February number, which was revised up to 750,000 new jobs. The seasonally adjusted unemployment rate ticked down to 3.6 percent from 3.8 percent, or 2/10ths of a percentage point—or 20 basis points (bps)—from last…
Fed Moves to Check Inflation
Commentary Federal Reserve (Fed) policymakers have made a change. Chairman Jerome Powell announced only days ago that the nation’s inflation problems impel a more restrictive monetary stance. Accordingly, the Fed has ended its long-held practice of directly buying securities in financial markets—what the Fed calls “quantitative easing.” Policymakers have also raised the benchmark federal funds…
Know Blood for Oil
Commentary During President George H.W. Bush’s 1991 Persian Gulf War, protesters took up the slogan, “No Blood for Oil”—the filthy, lucrative, greenhouse gas-producing commodity being an obscene cause for anyone to die for. But oil is not the devil’s venom all too many have been convinced it is. The black gold pumped from deep underground…
The Failure of Central Banking: Interest Rate Policies
Commentary The one thing the central banks were never meant to do was the takeover of our economies. This, unfortunately, is what has happened, and it all begins with the creation of the Federal Reserve, or the Fed in 1914. There had been several attempts to create a national bank in prior decades, but these…
We’re All Terrorists Now
Commentary Lately all eyes have been on the Russia-Ukraine invasion. But in case you’ve missed it, there’s a first-of-its-kind, full-blown revolution going on north of our border. A government is trying to overthrow its people. Several weeks ago, Prime Minister Justin Trudeau enacted a mandate that required unvaxxed Canadian truckers who drive between the United…
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