Commentary Social Security has a problem. As Democrats push to expand entitlements to include free preschool and subsidized child care, little attention is getting paid to the fact that Social Security is a financial trainwreck. “The program’s payouts have exceeded revenue since 2010, but the recent past is nowhere near as grim as the future. According to…
Social Security: Whistling Past the $96 Trillion Graveyard
March 22, 2022
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Business & EconomyBusiness Columnistsdebteconomic policieseconomyOpinionSocial SecuritytaxesViewpoints
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China Remakes Global Markets
March 22, 2022
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Business & EconomyBusiness ColumnistsLondon Metals ExchangeOpinionThe Hong Kong Stock ExchangeThinking About ChinaTsingshan Holding
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Commentary Away from the battlefields of Ukraine, a battle is taking place on a global exchange for what exactly constitutes a market and their rules. China, long known for manipulating its domestic market and cheating on global markets, is taking that to a new level by protecting Chinese firms from trading losses. The London Metals…
Urban Supremacy and the Dismantling of Rural Communities
March 22, 2022
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Business & EconomyBusiness ColumnistsCommunityeconomic policieseconomyOpinionruralSocial IssuesUSViewpoints
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Commentary Probably the worst of the multitude of villainous COVID restrictions came at the expense of churches, the forced closure of their doors. Coupled with this tragedy was the fact that while churches were empty, liquor stores remained open for business. And while this wasn’t true everywhere, in many areas, bars were allowed to open for…
The Fed Still Doesn’t Get It
Commentary At last week’s press conference, Fed Chair Jerome Powell said if the Fed knew then what it knows now, it would have moved sooner to raise interest rates to contain inflation. The Fed didn’t know what it should have known because it still fails to consider the money supply when forming policy. The Fed…
A Universal Basic Income?
Commentary Today’s geopolitical emergency has driven domestic policy proposals off the front pages. In time, however, they will reemerge. One idea that is sure to see the light of day is the notion of a universal basic income (UBI), in which the government gives every citizen a regular cash handout regardless of need. UBI proposals,…
Why Chinese Companies Are Delisting in America
March 21, 2022
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American exchangesBusiness & EconomyBusiness ColumnistsChinese firmsdelistingOpinionThinking About China
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Commentary Chinese firms are delisting from American exchanges at an increasing pace. It is a complete reversal of a trajectory that up until recently saw China-based firms flocking to list their shares in the United States, Hong Kong, and elsewhere, both to raise their global profiles and to enlarge their sources of funding. The new…
Trouble for the Curve: Recession Versus Inflation Is the Fed’s Hobson’s Choice
Commentary The yield curve measures the difference between short-term borrowings, or “short” money, and “long” money, borrowed on longer terms. The Fed typically affects interest rates by setting the overnight borrowing rate for member banks. Open Market Operations, its second principal means of moving rates, affects cash in the economy by selling Treasurys to pull…
Trouble for the Curve: Recession vs. Inflation Is the Fed’s Hobson’s Choice
Commentary The yield curve measures the difference between short-term borrowings, or “short” money, and “long” money, borrowed on longer terms. The Fed typically affects interest rates by setting the overnight borrowing rate for member banks. Open Market Operations, its second principal means of moving rates, affects cash in the economy by selling Treasurys to pull…
What Good Is A Federal Reserve With No Spine?
Commentary In 1984, Nobel economics laureate Milton Friedman said he would replace the Federal Reserve Board with a computer, a machine programmed to increase the money supply by no more than about 2 percent a year. The esteemed co-author of the landmark “A Monetary History of the United States, 1867–1960” knew that a series of…
Volkswagen Panders to China
March 19, 2022
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Business & EconomyBusiness ColumnistsChinaChina Business & EconomyOpinionThinking About ChinaVolkswagen
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News Analysis Volkswagen (VW) doesn’t seem to care much about China’s support of Russia during its Ukraine invasion. Neither, apparently, is the German company showing exceeding concern about the genocide in Xinjiang (where it has a factory that employs about 650 people). VW is not quite committed to an increase of its manufacturing in the…
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