By: Peter St. Onge One popular critique of bitcoin is energy cost per transaction. This doesn’t begin to capture bitcoin’s massive energy savings compared to fiat currency. Bitcoin’s cost per transaction is well known, and often critiqued; one article in Wired magazine called bitcoin “[a] big middle finger to earth’s climate.” This is because bitcoin’s security, redundancy, and […]
Money
U.S. annual inflation surges to highest level since August 2018, led by gasoline and food
Well, inflation is here. According to the Bureau of Labor Statistics (BLS), the annual inflation rate climbed to 2.6 percent in March, up from 1.7 percent in February. The market had a forecast growth of 2.5%. This represents the highest inflation reading since August 2018. Aside from apparel, consumer prices rose across the board. Gasoline […]
New York exodus continues? ‘Gov. Death’ Andrew Cuomo proposes new taxes
By: James Fite There was a time when New York Governor Andrew Cuomo held his domain in an iron grip. He was untouchable. That time has passed. From the clever moniker “Governor Death” – earned after thousands of nursing home residents died because of his policy – to the myriad accusers coming out of the woodwork to […]
U.S. producer prices hit a decade high as everything gets more expensive
It is getting more expensive to produce things, which will inevitably be passed down to consumers. According to the Bureau of Labor Statistics (BLS), U.S. producer prices climbed one percent in March, causing the largest annualized gain in nearly a decade. In the 12 months through March, the producer price index (PPI) increased 4.2 percent. […]
INFLATION ALERT: UN’s FAO food price index surges 2.1% in March
There is no inflation if you don’t eat. The United Nation’s Food and Agriculture Organization (FAO) reported that global food costs keep climbing. From grains to vegetable oils to meat, everything is surging across the world since the start of the coronavirus pandemic, mainly because China is buying all the supplies. Here is what the […]