Last year, Joe Biden and his administration claimed that inflation was "transitory." This year, Vladimir Putin gets the blame. Next year, Biden will blame American businesses. And the beat goes on.
It is the fiat monetary system itself, not deflation, that helps create the unstable conditions that lead to financial crises.
While the Fed governors claim "all is well" and that inflation is "transitory," the bad news continues to pile up. Inflation will be with us for a long time.
The Fed's reckless behavior has undermined Netflix more than the losses at CNN+.
Academic economists since John Maynard Keynes have mocked the classical gold standard, but when government implemented their system, we got inflation and destruction of the currency. Time to rethink the success of that gold standard.
Thanks to the Fed's monetary gyrations, we are seeing the yield curve acting abnormally. However, one cannot get something from nothing and market forces ultimately will frustrate the Fed's designs.
Paul Krugman recently wrote that the reason we see high inflation is that people mistakenly believe inflation is in our future and act accordingly. This reasoning is false.
Ryan McMaken and Tho Bishop take a look back at previous statements by current members of the Fed.
Despite assurances from politicians and the media, the Federal Reserve System is not a collection of geniuses who stand guard against inflation and recession. Instead, think of the Fed policy makers as the Keystone Cops of central banking.
