U.S. Economy

The affordability crisis is upon us. Housing, food, you name it, life is becoming expensive. The government blames business, but perhaps government officials should look in the mirror.

Compared to how most other people in the world live, Americans have a high standard of living. And despite the talk about inequality, there is more economic and social mobility here than anyplace else.

Niccolò Machiavelli, who often is criticized for his views on using political power, understood the dangers of unchecked government spending. Perhaps our own political leaders should read "The Prince."

As the economy slowly deteriorates, consumer debt rises. In the meantime, the Fed is pushing up interest rates to deal with the inflation it caused. This does not end well.

Forget Vegas sports betting for reckless speculation. When the Fed officials make projections, the markets assume they are accurate. However, as Jerome Powell himself admits, forecasts are speculative at best.

On yet another crusade, US authorities have sanctioned Chinese cotton imports. The sanctions won't change Chinese policies but they will create hardships for many.

The Federal Reserve is playing its typical confidence game.

If we read between the lines, it is apparent that the Fed is hoping that price inflation will fall to politically acceptable levels without any additional tightening, and without a recession.  But "hope" is all the Fed has. 

Although there has been excitement and fanfare over the recent BRICS meetings and proclamations, it is doubtful that these economies’ performance can match their rhetoric.

The call for "price stabilization" was part of the recent Republican debate. Despite its attractive appearance, having the Fed try to "stabilize prices" is a very bad idea.