Despite its reputation for freedom, the U.S. has the world’s highest prison population rate, 716 inmates per 100,000 people. More than half the countries of the world have rates less than one-fifth of that. The United States’ rate is six times that of Canada and six to nine times greater than the rates of Western European nations, with whom we have the most cultural and historical ties. Why is criminality so much higher here than in those countries? The U.S. has less than 5 percent of the world’s population but 22 percent of its prison population.
Tagged: central bank
For over a decade, now, the American economy has been on an economic rollercoaster, of an economic boom between 2003 and 2008, followed by a severe economic downturn, and with a historically slow and weak recovery starting in 2009 up to the present.
Financial markets in the United States and around the world are all waiting with “bated breath” for when the Federal Reserve modifies its “easy money” policy and starts to raise interest rates. No one, however, asks a simple question: Why is the American central bank in the interest rate setting business?
Since the economic crisis of 2008-2009, the Federal Reserve – America’s central bank – has expanded the money supply in the banking system by over $4 trillion, and has manipulated key interest rates to keep them so artificially low that when adjusted for price inflation, several of them have been actually negative. We should not be surprised if this is setting the stage for another serious economic crisis down the road.