By: Andrew Moran The U.S. economy is 20 months removed from one of the most bizarre events in modern times. For about two weeks, consumers flooded every gas station, residence, warehouse, farmhouse, henhouse, outhouse, and doghouse in a hunt for toilet paper, grabbing any last sheet of Cottonelle and – God forbid! – one-ply generic brand they could […]
Archives for September 2021
Janet Yellen reveals she wants to abolish the U.S. debt ceiling
Right now, the U.S. debt ceiling is merely a figment of the nation’s imagination. There is no debt ceiling as politicians spend without worry or care. All this nonsense both sides go through every couple of years is political theater. But now there is talk of eliminating it altogether, leading to unlimited borrowing and spending. […]
Sherrod Brown proposes banning Federal Reserve officials from stock ownership
Now that a couple of Federal Reserve officials are out, Washington is scrutinizing the institutions’ officials to trade stocks. Sen. Sherrod Brown (D-OH) has proposed legislation that would prohibit U.S. central banks from stock trading during their tenure at the Eccles Building. From Reuters: The head of the U.S. Senate Banking Committee on Tuesday said […]
Inflation is killing the post-COVID economic recovery
By: Daniel Lacalle Last week, Ned Davis Research published a note titled “Turns Out, Growth Looks like It Was Transitory—Inflation Is More Sticky.” There are many factors that show us that consumers and salaries are being eaten away by inflation, leading to an abrupt halt in the recovery. Autos and new home sales plunged, real disposable personal […]
LOL: Jerome Powell admits hot inflation will last longer than anticipated
U.S. officials keep moving the goal posts. The evolution has been fascinating. Inflation went from not happening to being hot for longer real quick. Fed Chair Jerome Powell told the Senate Banking Committee in prepared remarks that inflation pressures are likely to last longer than expected. “Inflation is elevated and will likely remain so in […]