All across the economic dashboard, inflation indicators are blinking red. Most recently, the Personal Consumption Expenditures (PCE) index, calculated by the Bureau of Economic Analysis, rose 5.7% from November 2020 to November 2021. That’s the biggest year-over-year...
Since the first assault on Turkey’s finances in 2018, which I wrote about multiple times (here, here, and here), I’ve been the lone voice telling everyone that President Recep Tayyip Erdogan is a lunatic but he’s a lunatic with a plan. That plan is to de-dollarize the...
U.S. government interference with our lives often resembles a Russian matryoshka doll: regulation is nested in more regulation. Take the provision of Biden's pending Build Back Better bill that would create a big tax credit for people who buy U.S.-built electric...
According to new data released Friday by the Bureau of Labor Statistics, price inflation in November rose to the highest level recorded in nearly forty years. According to the Consumer Price Index (CPI) for November, year-over-year price inflation rose to 6.8 percent....
There is no question. The United States dollar dominates world commerce. In 2019, it made up 88% of global trade, and no other currencies came close. This dominance gave the United States power over any other country that exports anything from anywhere. For example,...
White House Chief of Staff Ronald Klain tweeted on Wednesday: “Stronger COVID measures produce STRONGER ECONOMIC outcomes. That’s why jobs, growth, and economic activity are UP this year, significantly over last year.” Actually, jobs and economic activity have...
With the emergence of the Omicron COVID-19 variant, renewed restrictions on liberty or calls for their reinstatement have broken out around the world. The new wave is probably only beginning, and with it will surely come sermons on how we must face trade-offs between...
Be they "left" or "right," those who agitate for racial polarization seem to have no sense of the harm they could do to everyone in our society. As the wise Glenn Loury would say, they are playing with fire. By polarization, of any kind, I mean more than merely a...
