Commentary They keep telling us that the Fed is fighting inflation. Month after month, they say that it is cooling, softening, easing, pulling back, losing its edge, calming down, and gradually going away. These claims have been consistent for 28 months. And yet when you look at the big picture, the dollar has lost nearly…
America’s Small Businesses Deeply Pessimistic About Economy
U.S. small-businesses owners are deeply pessimistic about economy, as inflation, higher borrowing rates, and a tight labor market weighed on their outlook last month. The National Federation of Independent Business’s (NFIB) optimism index, in a report on April 11. fell to 90.1 in March from 90.9 in February. This marks the fifteenth consecutive month below the 49-year…
Is a New Gold Standard Possible?
Commentary The price of gold is once again testing its all-time highs as both individuals and institutions flee the chaos of our times toward safety. What John Maynard Keynes decried as the “barbarous relic” just keeps coming back. The worse government policies become, and the more deranged and dysfunctional the Federal Reserve is revealed to…
Job Openings Fall the Most in 2 Years
Commentary With labor participation rates still far below pre-lockdown norms, and with the rising investment we should be seeing, one might suppose job openings would be growing. Trends are going in the opposite direction. Job openings for March fell the most they have in two years. This data, however, needs to be unpacked a bit…
Hey, Uncle Sam: Stop Paying People for Not Working
Commentary A policy question these days that has befuddled federal lawmakers is why so many millions of people have not returned to the workplace in the post-COVID-19 era. The labor force participation rate among employable adults is near a record low today. There are at least 2 million to 4 million employable adults who could…
Several Landmines Ahead for US Economy
Commentary Markets have remained relatively stable since the Federal Reserve announced a 25-basis-point hike in March, with no negative surprises jumping out of the U.S. banking sector. But the U.S. economy remains on the verge of trouble. There are landmines on several fronts that could hurt businesses and consumers. And all of this makes the…
A ‘Feel-Good’ Period Before ‘Inevitable’ US Recession: JPMorgan Investment Officer
Markets could see a rally before an inevitable downturn, said Bob Michele, the chief investment officer of JPMorgan Asset Management, adding that American investors are cleaning out their portfolios with assets that can withstand an economic recession. “I actually think in the next quarter, we could see risk assets rally. Having been an investor through…
The (Block) Chaining of America
Commentary We live in the Age of Deception. Calling something what it truly is, is a rarity these days. Big Lies, Bad Outcomes, and No Consequences For example, the Biden administration’s “Inflation Reduction Act” actually raised prices on fuel and utilities, hurting middle-income Americans the worst. The law did exactly the opposite of what the…
Is America Still a Capitalist Society? The Case for Letting the Market Speak
Commentary In theory, America is a capitalistic society. One beautiful part about capitalism is that everyone gets to participate. If you create value, you get rewarded for it. If you invent something new and create a lot of value, you get rewarded handsomely for your effort. However, the flip side of living in a capitalistic…
The CARES Act: A Three-Year Retrospective
Commentary On the very day that lockdowns were announced (March 16, 2020), the Federal Reserve revved up its printing press and Congress prepared the CARES Act that spent $2.2 trillion to feed the lockdown beasts at the state level. It was a huge turning point in U.S. history that changed everything. We are still dealing…
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