Inflation

The great credit expansion Alan Greenspan began thirty years ago has finally run its course. The Fed no longer can expand credit to fight the oncoming recession.

Mortgage companies and realtors are today's canaries. They're in deep trouble, and so are the rest of us. 

There are two very effective ways to destroy an economy: hyperinflation and central planning.

Rather than contributing to a "soft landing," raising interest rates will continue to destroy wealth.

Forget Biden's claim that his government is "fighting inflation." His government is creating inflation, and in so doing robbing people of their savings and earnings.

When Paul Volcker was Fed chairman forty years ago, he did what was necessary to bring down inflation. Unfortunately, the current Fed leadership at best is engaging in Volcker Lite.

As prices rise, many people—including economists, who should know better—claim that price increases are inflation. They are not.

June was the fifteenth month in a row during which price inflation outpaced earnings growth. June's gap is also among the biggest we've seen in decades.

Rather than contributing to a "soft landing," raising interest rates will continue to destroy wealth.

The Keynesians running our economic life may be reassured that the Fed cannot fail in a technical sense, but the public should be appalled.