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According to a recent article by the Guardian (www.theguardian.com), 75% of Americans report soaring prices as Trump claims inflation ‘over.’ The article reads: “Nine months after Donald Trump took office, promising to reduce prices on ‘day one’, a clear majority of Americans say their monthly costs have risen by between $100 and $749, according to…
My philosopher friend, marcel.a.emmenegger@gmail.com recently made some interesting comments about The Paradox of Corporate Morality in an essay entitled "Optics as Ethics." He writes: Modern capitalism operates with a peculiar moral compass. Systemic harm is absorbed and normalized. Personal scandal is punished swiftly and without mercy. Nestlé…
Ryan McMaken writes for the Mises Institute (www.Mises.org) the following: The “inflationists also hope that easy money-policy will somehow reverse the current stagnating trend in employment. In recent months, both President Trump and the usual Wall Street outlets have insisted that the Fed reduce the target policy interest rate to ensure that…
In a brief essay about Moral Decline: The Path to Currency Collapse, Jonathan Wellum, argues that “In the final analysis, it's just central banks printing money, reducing its value and causing inflation as they support dishonest governments that refuse to be fiscally responsible and continually run massive deficits. Such policies flow from the…
Randall W. Forsyth (randall.forsyth@barrons.com) explained in a recent Barrons article that Trump Has a Big, Beautiful Reason to Push for Lower Rates. According to Forsyth, “The Federal Reserve held its policy interest rate steady this past week and maintained its median projection of two quarter-point rate cuts by year end, exactly as expected. …
My regular readers are familiar with my friend Kevin Duffy who is a brilliant analyst and macro-strategist and who is also the editor of The Coffee Can Portfolio (www.coffeecanportfolio.com), a highly recommended newsletter. He recently sent me an essay entitled, Mercantilism in America: The Trouble with Self-Sufficiency (first published at www.mi…
According to Michael Snyder “Consumer sentiment is plummeting, delinquency rates are rising, and nearly three-quarters of all U.S. consumers admit that they are ‘financially stressed’. If U.S. consumers are experiencing this much pain now, what will things look like six months from today if there are empty shelves and widespread shortages? We…
Last month, I discussed briefly the views of Murray Rothbard about The Difference Between the Market and the Bureaucracy. Subsequently I read an interesting essay by Rothbard entitled Why the Bureaucracy Keeps Getting Bigger, which is adapted from Bureaucracy and the Civil Service in the United States, which originally appeared on September 14,…
I have to confess that when I completed my studies in economics with a PhD magna cum laude in 1969, I had never heard the names of the great contemporary “Austrian School” economists such as Friedrich von Hayek (1899 – 1992), Ludwig von Mises (1881 – 1973), and Murray Rothbard (1926 – 1995). Later, when I acquired my book collection relating to…
The Association of Mature American Citizens (Amac), published in January an article entitled The Biden Legacy: Nearly a Trillion in Improper Payments by Rachel Greszler who wrote that, “The fiscal year 2024 data are in, and they show that the Biden administration has overseen a record $926 billion in improper and unknown federal payments since…
Marc Faber