By: Bradley Thomas A mantra popularized by Bernie Sanders and like-minded progressives declares “billionaires should not exist.” The statement serves as both a declaration of the “immorality” of wealth inequality as well as a justification for steep confiscatory taxes on wealth favored by the likes of Sanders and Elizabeth Warren. While on the campaign trail last year, Sanders […]
Archives for September 2020
Citi: Gold still forecast to hit record high before year’s end amid political risks
Gold prices have been in correction mode this month, sliding below $1,900. Silver has also been crashing this month, falling below $24. Does this mean the bull run is over? Not by a long shot, says Citigroup. The financial institution released its latest quarterly commodities outlook, and it believes the yellow metal will climb more […]
Federal Reserve balance sheet stabilizes, tops $7 trillion as stock market tanks
The Federal Reserve’s balance sheet has stabilized this past summer, which could explain why the stock market has tanked in September. Although the U.S. central bank’s balance sheet is more than $7 trillion, the explosion in growth has leveled off. Here is what its total assets look like: Does this mean the Eccles Building’s stimulus […]
CBO warns U.S. debt to double over next 30 years
The United States government has taken on an astronomical level of debt since the coronavirus pandemic shut down the world’s largest economy. With former Vice President Joe Biden looking like he will win in November, you can be prepared for even greater spending efforts and budget deficits. But how bad is it expected to get […]
Inflation & Shortages: The coming post-coronavirus food crisis
By: Andrew Moran While central banks are busy depreciating money, governments have spent the last several months debasing the most important currency in modern economics: tradeoffs. Since the Coronavirus pandemic forced folks to seek shelter in their basement à la Joe Biden, policymakers around the world have collectively decided that COVID-19 takes precedence over everything else, even if […]