Here’s the dirty little secret. It was the GOP which killed sound money. And its replacement, the Fed’s bad money, is at the root of all statist evil – from imperialist wars abroad to suffocation of free markets, personal liberty and individual responsibility at home. Surely, no Fed has been as far off the deep-end as the mindless money printers in charge of the Eccles Building today. The world’s ablaze with rising goods and services inflation, as we learned again Wednesday morning from the 5.4% rise in the September CPI, and also the ongoing financial asset bubbles the likes of … Continue reading →
If you don’t think Washington is populated by the world’s greatest collection of idiots, just consider some of today’s incoming data, starting with another disastrous trade report. The trade deficit in goods for August posted at -$89.4 billion, which is nearly the worst monthly figure on record and 40% below the already huge -$63.7 billion deficit posted for the pre-Covid peak in February 2020. And, no, we are not harping here on the trade account’s tsunami of red ink out of some Trumpian affection for protectionism. To the contrary, this is the result of stupid economics – specifically the $6 … Continue reading →
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