It feels like it's been months, but it's only been a few weeks since the world's central banks started forcing down their key interest rates to historical lows around the world. In those places where rates weren't reduced, the central banks have adopted vast...
The U.S. national debt pushed above $24 trillion on Tuesday. The U.S. government was already running massive budget deficits long before the coronavirus pandemic and the debt was piling up at a dizzying pace. Response to the outbreak has put spending and debt in...
As he valiantly tried to get a recorded vote on House passage of the $2.2 trillion coronavirus bill (the CARE Act), Rep. Thomas Massie learned once again last month the chief difference between the members of Congress and the inmates of a maximum security prison:...
From the Contracorner (paywall): It took 213 years and 43 presidents—-from George Washington to Dubya Bush—- to generate the first $6 trillion of public debt. Now a mad man in the Oval Office and a herd of Capitol Hill larcenists will be doing it in just 700 days....
From Reuters Now they are increasing spending, but what happens when tax revenues fall off the cliff because people aren't working? A debt jubilee, inflate the debt away, debt restructuring, or deficits don't matter MMT - what will they do? The latest surge in...
It is a cliché that if we do not study the past we are condemned to repeat it. Almost equally certain, however, is that if there are lessons to be learned from an historical episode, the political class will draw all the wrong ones — and often deliberately so. Far...
The Fed came out with a series of unprecedented measures on March 22, 2020. They announced the Fed will buy an unlimited amount of Treasurys and mortgage-backed securities (MBS), or as Peter Schiff refers to it, “QE infinity.” This has been very positively welcomed by...
Before the coronavirus pandemic and the response to it triggered an economic meltdown, the U.S. federal government was planning to spend nearly $4.8 trillion in its 2020 fiscal year. Last week, President Trump signed a $2.3 trillion relief package aimed at mitigating...
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