U.S. stocks are crumbling to kick off the trading week. Wall Street is on fire on Monday as fears over China’s Evergrande, this week’s Federal Reserve policy meeting, and the Delta variant pushed investors to hit the sell button. Everything was down: Dow Jones Industrial Average Nasdaq Composite Index S&P 500 Gold Silver Oil Natural […]
Money
Is the U.S. economy on steroids or training wheels?
By: Andrew Moran For decades, the United States economy has been addicted to government spending, from stimulus to subsidies, and this addiction is tough to kick, although nobody has gone cold turkey. In the immediate aftermath of the COVID-19 public health crisis, Congress accelerated spending, and the Federal Reserve ramped up the printing press, adding another layer […]
Ray Dalio: Government ‘will kill’ bitcoin if cryptocurrencies are successful
Are regulators coming for bitcoin and other cryptocurrencies? Ray Dalio, founder of the hedge fund Bridgewater Associates, thinks that the government take control of bitcoin if the virtual token generates mainstream success. “I think at the end of the day if it’s really successful, they will kill it and they will try to kill it. […]
Everything is more expensive as inflation remains near decade high in August
The consumer price index (CPI) matched the market forecast in August, coming in at 5.3 percent year-over-year. Close to everything was more expensive compared to a year ago, according to the Bureau of Labor Statistics: Gasoline: +42.7% Used Cars: +31.9% Gas Utilities: +21% New Cars: +7.6% Overall CPI: +5.3% Electricity: +5.2% Food away from home: […]
How the COVID pandemic’s UBI experiment was a failure
By: Andrew Moran Universal basic income (UBI) is not a new concept. The idea of money for nothing has been journeying across the globe for centuries. In the 16th century, a basic income had been recommended to prevent the impecunious from stealing. The great philosopher Thomas Paine suggested guaranteed cash for young people in their […]