Inflation

The Fed’s inability to see the onrushing freight train of inflation that has smacked America shows again that experts know much less than they think.

The government and Fed are over a barrel. The federal debt is now over $30 trillion. But the Fed’s only way to address runaway inflation? Raising interest rates.

The Biden Administration has engaged in an omni-directional assault on our food production system.

Biden appears to lack a basic understanding of what crude oil is used for, as he tinkers with the supply chain of crude oil that supports the lifestyles and economies that did not exist in the decarbonized 1800’s.

Can we guess who will get the lion’s share of all of this DC money? DC’s biggest cronies, of course.

They finally realized they (not Big Oil executives) would be humiliated by reality.

As economist Milton Friedman famously said, “Inflation is everywhere and always a monetary phenomenon.” Alleged inflation remedies should be evaluated on their own merits.

We experienced double-digit inflation between 1974 and 1981, hitting 14% in 1980. The U.S. has dramatically reduced inflation since then.

The recently reported rise in the Consumer Price Index in April of this year to an annualized rate of 4.2 percent has set off alarm bells about the possible danger of serious and rising price inflation looking to the months ahead.

The estimated tradeoffs for this meager increase in income is the destruction of 1.4 million jobs, a slight decline in the overall economy, increased inflation, more government debt, and greater burdens on taxpayers.

President Trump is reportedly considering former Godfather’s Pizza CEO and one-time presidential candidate Herman Cain for the Federal Reserve Board of Governors. 

Several major central banks around the world, including the Federal Reserve in the United States, have set a goal of two percent price inflation. The problem is, what central bankers are targeting is a phantom that does not exist.

Whatever economic freedom we enjoy in the world today is due, to a great extent, to the ideas and efforts of the classical liberals and economists of the first half of the nineteenth century.