Would DOGE Dividend Checks Stoke Inflation?
Is Elon Musk’s DOGE taxpayer dividend proposal inflationary, or is it simply returning savings from government spending cuts?
Is Elon Musk’s DOGE taxpayer dividend proposal inflationary, or is it simply returning savings from government spending cuts?
Both Monetarists and Keynesians believe that a growing economy requires a growing money supply, thus, the Federal Reserve‘s “target” inflation rate of two percent. Austrian economists, however, understand that inflation at any level creates economic damage.
In November, year-over-year growth in the money supply was at 2.35 percent. That’s a 27-month high and the largest year-over-year increase since September 2022.
Bob explains that the beloved Wizard of Oz movie involved an allegory of the bimetallism debates of the late 1800s.
The state and its friends reject the scarcity principle and uphold its polar opposite, the Santa Claus principle.
Murphy lays out the various camps in the debate over fractional reserve banking.
The current trend in money-supply growth is a big turnaround from the many months of depression-level contractions we saw in 2022 and 2023.
Bob critiques MMT godfather Warren Mosler's recent interview where he argued that the Fed rate hikes have been fueling the strong economy.
Month-to-month money-supply growth turned positive in March, and money growth hit a two-year high. The Fed clearly has no appetite for more monetary "tightening."