In October, the U.S. national debt reached $31 trillion, and the government is projected to wade another trillion dollars into the red in the 2023 fiscal year. The longer-term picture is even gloomier, with the deficit expected to double to $2 trillion by 2030....
Economics
Our Economic System Is Built To Enrich the 1%
by Jeffrey Wernick | Nov 29, 2022 | Economics, Featured Articles
I would like to attempt to describe our economic model since we abandoned sound money and any constraints upon our ability to print IOUs (or what most refer to as dollars without any understanding of what that really means). Before, there was mandated fungibility...
How to Sell Progressives on Lower Taxes
by Connor O'Keeffe | Nov 29, 2022 | Economics, Featured Articles
As Democrats and Republicans across the country fought over control of Congress in this past midterm election, progressives in Massachusetts and California continued with one of their favorite pastimes: trying to raise taxes on the rich. In Massachusetts, voters were...
No, the Labor Market Ain’t ‘Strong’
by David Stockman | Nov 28, 2022 | Economics, Featured Articles
Last Friday the Wall Street gamblers made another run at “bad news is good news”, taking the averages up modestly after a frenetic chase around the barn and back. But at the end of the day, it’s high time to forget about the games played by Wall Street day-traders and...
We Can’t Expect America to Take Its Economic Medicine
by Jeff Deist | Nov 23, 2022 | Economics, Featured Articles
Does America simply lack the political will to face economic reality? In the teeth of the Depression, Treasury secretary Andrew Mellon famously told President Herbert Hoover to “liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate”—in other...
Search for Easy Money Fueled FTX-Crypto Collapse
by Ryan McMaken | Nov 22, 2022 | Economics, Featured Articles
The collapse of the crypto exchange FTX may prove to be a canary in the coal mine of the easy-money-fueled crypto bubbles. FTX’s collapse has exposed just how little due diligence is actually taking place among investors, who are apparently willing to put large...
‘Greedflation’ Is a Red Herring
by Connor O'Keeffe | Nov 21, 2022 | Economics, Featured Articles
Even as price inflation slows and we move past June’s peak, progressives continue to push the concept of “greedflation”—that this year’s price inflation is caused by corporate greed and price gouging. This is inaccurate, based on bad economics, and it blames a...
Fake News Exposed: Inflation, Iran, College, America First, and Poland
by The Libertarian Institute | Nov 18, 2022 | Blog, Economics, Libertarian Institute Roundtable, Politics
https://youtu.be/OVmAJhnGxLU What Makes Wages Rise The buyers do not pay for the toil and trouble the worker took nor for the length of time he spent in working. They pay for the products. The better the tools are which the worker uses in his job, the more he can...