It's odd for Joe Biden to celebrate an inflation report that still has price inflation growth over 7 percent, especially when real wages are falling and a recession looks more likely every hour.
The world's central banks ran up their risk, all together, and now the big risks they assumed are turning into losses all around the central bank club.
Twenty-six years ago, the debate was over whether or not the target inflation rate should be raised from zero to 2 percent. Now we're being told it should be 4 or 6 percent.
John Maynard Keynes derided gold-based money as a "barbarous relic," yet it was gold that enabled a long regime of honest money -- and the advance of civilization.
Progressives claim that capitalism is a form of "social Darwinism." Mises knew better.
Beijing must be very happy. Thanks to the "price cap," the Asian giant will secure a long-term supply at al attractive price from Russia and sell refined products globally at higher margins.
Energy production in the USA and elsewhere is in trouble because of government control. We need more energy and less regulation.
For nearly two decades, business, academic, and political elites have spread the fiction that central banks can engineer prosperity by printing more money. Markets now are discrediting that fairy tale.
Even if we accept the dubious claim that the supposed strength of the USSR justified nuclear brinkmanship, its absurd to make that same claim about modern Russia.
Investors should not care whether the Fed pivots or not if they analyze investment opportunities based on fundamentals and not on monetary laughing gas.
