Does cheap money and credit make us richer? Does more money and credit create more stuff, or better stuff? Do they make us happier and more productive? Or do these twin forces actually distort the economy, misallocate resources, and degrade us as people? These are the fundamental questions that Jeff addresses.
The Fed is insolvent, and that means that it will bail itself out by printing money. For ordinary people, that means inflation and a rising cost of living.
It is no secret that freedom, both socially and economically, are disappearing in the USA and Great Britain. The consequences will be most severe if we do not reverse these patterns.
Once upon a time, the USA had sound, reliable money. Then, a small group of "really intelligent" people decided to "improve" it. We know the rest of the story.
Now would be a great time to stop pretending that the financial sector is "free market" or that price inflation and cost-of-living surges are somehow all the fault of "capitalism."
The Federal Reserve is no more "private" than the Environmental Protection Agency, and through its special government status, the Fed inflicts many economic crimes on regular people.
Monetary authorities have come up with numerous clever ways of measuring money. However, they are unable even to define money, much less measure it.
There is an undeniable negative trend in European employment and wages that is a direct consequence of constantly increasing intervention in the economy.
A recession looks more likely every day, and the latest sign of this is slowing price growth in producer prices. After all, price inflation usually slows as the economy weakens and consumers run out of easy money.
The Federal Reserve has yet to get price increases anywhere near its own arbitrary 2 percent goal, but a mild slowing in growth rates has Biden claiming that price inflation is "falling."
