Nouriel Roubini, a former advisor to the International Monetary Fund and member of President Clinton’s Council of Economic Advisors, was one of the few “mainstream” economists to predict the collapse of the housing bubble. Now Roubini is warning that the staggering...
When Americans make lists of the persecuted, downtrodden groups in our society, college graduates rarely top the ranking. But President Joe Biden is offering one bribe after another to convert college graduates into perpetual dependents of the Democratic Party....
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...
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...
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...
Those searching for an explanation of why there was no “red wave” giving Republicans huge gains in Congress in this year’s midterm election should compare this year’s election with the midterm election of 2010. In 2010, Republicans gained a net 63 House seats. While...
Tomorrow [Today, November 8] is election day and polls suggest that Americans are going to overturn Democratic Party control of the House and Senate. Politicians and the media always say that this is the most important election ever, but all too often once the voting...
Download Episode. Scott talks with Mike Swanson about the economic mess we find ourselves in. Swanson helps us understand how we got here and why all the traditional “experts” have been so confused. Swanson argues that what happened in the UK with Liz Truss may...
The Federal Reserve's Federal Open Market Committee (FOMC) raised the target federal funds rate 75 basis points on Wednesday, marking the fourth 75-basis-point hike in a row since June. The federal funds rate is now the highest it's been since December of 2007 when...
On Oct. 3, 2022, the U.S. national debt eclipsed $31 trillion for the first time in history. When you factor in unfunded liabilities in Medicare and Social Security, the debt skyrockets to well over $100 trillion. As the Anti-Federalist writer Brutus warned: “I can...
The average square footage in new single-family houses has been declining since 2015. House sizes tend to fall just during recessionary periods. It happened from 2008 to 2009, from 2001 to 2002, and from 1990 to 1991. But even with strong economic-growth numbers well...
Former Federal Reserve Chairman Ben Bernanke is a 2022 recipient of the Nobel Prize in economics for his writings on how government should respond to bank failures. Honoring Bernanke for his advice on what government should do when banks fail is like giving a fire...
The Federal Reserve has a legal dual mandate to minimize unemployment and price inflation. The current “dual” between the two mandates is to reduce price inflation by increasing interest rates to increase unemployment and kill businesses to choke off aggregate demand....
Last week Congress passed a continuing resolution and then adjourned until after the election. When Congress reconvenes, it will almost certainly pass a multi-billion dollars aid package for those impacted by Hurricane Ian. This spending will likely be labeled...
