It sucks to be a minimum wage worker in New York City in this inflationary economy. According to a new survey by United Way of the National Capital Area, minimum wage earners in New York would need to work 111 hours to afford a one-bedroom rental. But while this is atrocious, a minimum wage employee […]
Inflation
Ben Bernanke: Printing press allows Fed to print infinite amount of dollars at ‘no cost’
In case you missed it, former Federal Reserve Chair Ben Bernanke won this year’s Nobel Prize in economics. He was victorious for his “research” work in the 1980s and his role in fueling, er, fighting the Great Recession. But it goes to show that the Nobel committee is comprised of statists who will only award […]
Inflation eroding Americans’ earnings as real wage growth stuck at -3.8%
Despite the red-hot labor market in the United States, workers are not coming out ahead. The reason? Inflation is still sizzling, running north of 8%. And this is weighing on employees’ wages. After this week’s hotter-than-expected consumer price index (CPI), the Bureau of Labor Statistics (BLS) released this statement (emphasis ours): “Real average hourly earnings […]
Joe Biden: ‘If Republicans win, inflation is going to get worse’
President Joe Biden does not understand how inflation works or how it started. Case in point, his newest claim is that if Republicans win in the November midterm elections, inflation will worsen. “If Republicans win, inflation is going to get worse.” His remarks come after the annual inflation rate eased slower-than-expected to 8.2%, while the […]
Eat or heat? Millions of Europeans to make decision this winter
By: Claudio Grass As the citizens of the European Union and the United Kingdom are increasingly struggling to make ends meet due to record levels of inflation, and as the winter draws closer, a serious cost of living crisis is set to spiral out of control. Skyrocketing energy costs, combined with galloping prices for food […]