“The US is being contained by China with China’s holding of its sovereign bonds… The U.S. is not completely without weakness.”
Source: Former Chinese Central Banker Warns Beijing May Dump Treasuries In Retaliation
Could this be checkmate and the beginning of the US dollar’s historic decline?
Donald Trump is an economic ignoramus. I say this all the time. I keep hoping I’m wrong, but every time he opens his mouth he confirms my worst impression of him. Trump isn’t dumb, he’s very smart. But, like so many smart people, including myself and FOMC members, he’s over-confident in applying that which he’s…
Source: Trump’s Fed Bashing is a Self-Inflicted Wound
Elizabeth Warren is a radical socialist or, equivalently, an American communist. An American communist is a person who advocates communism while maintaining the facade of supporting American ideals and basic institutions. Warren disguises herself as a Democrat, but her proposals make her a communist. She doesn’t believe in private property. She’s an anti-capitalist. Why bring up her beliefs? Warren is currently running second to Biden for the nomination. He’s at 29 cents and she’s at 24 cents on Predictit. Other contenders are at 13 cents and lower. She could become a vice-presidential nominee or a presidential nominee. A year ago … Continue reading →
Source: Elizabeth Warren: American Communist – LRC Blog
“Our problem is a Federal Reserve that is too proud to admit their mistake of acting too fast and tightening too much (and that I was right!). They must Cut Rates bigger and faster.”
Source: Trump Renews Powell Attack: “I Was Right… Fed Must Cut Rates BIgger And Faster”
Does the U.S. tax code have too many tax credits and loopholes? Most liberals, many conservatives, and some libertarians say that it does. Speaking at the Poor People’s Moral Action Congress forum for presidential candidates that was held in June at Trinity Washington University in Washington, D.C., former Vice President Joe Biden told the crowd that because “everyone is entitled to have total health care,” “every single person in the United States should have access to Medicaid right off the bat.” And how did Biden propose to pay for this? Among other things, he said that “eliminating tax credits and … Continue reading →
Source: We Need More Tax Credits and Loopholes – LewRockwell
The idea of price stability originates from the view that volatile changes in the price level prevent individuals from clearly seeing market signals as conveyed by changes in the relative prices of
Source: Price Stability Is Overrated
The record number of candidates seeking to be the Democrat to go up against Republican Donald Trump in the 2020 election all have one thing in common: because they believe that health care is a right, they want to see universal health care in America — they just vary on how to get there. The Democratic candidates’ plans range from the elimination of private insurance and the imposition of a single-payer, national-government health-care program to some form of “Medicare for Continue Reading
Source: We Already Have Socialized Medicine – The Future of Freedom Foundation
On August 6, 1949 I arrived in America with my parents, who were the only members of their respective families to survive the Holocaust, and my older brother after a five-day voyage across the Atlantic. My parents had no more than $150 with them. We were met at a west side Manhattan pier by my mother’s aunt and uncle from Paterson, New Jersey, who thought I was a two year old girl because of my long, blond hair.
We settled in lower Manhattan and lived in a three-room railroad apartment sharing a hallway bathroom with neighbors and having a bathtub in the kitchen. Soon after my younger brother Max was born we moved (August 1953) to a two-bedroom Bronx apartment (eventually moving downstairs to a three-bedroom apartment) where I lived until I married Florence in 1968. And in 1959, 60 years ago this past June, I raised my right hand at the Federal Courthouse in lower Manhattan and swore to support the US Constitution.
America has changed dramatically since that hot August day seven decades ago. The good news–the standard of living has increased substantially for youngsters of the baby boom generation who became of age in the 1950s and 60s. The bad news—the welfare-warfare state, which I have been criticizing for more than for decades, is undermining our prosperity and has been violating our fundamental American value of no entangling alliances and peaceful commerce around the world.
The epicenter of crony capitalism and enabler of the welfare-warfare state is the Federal Reserve. The Fed creates money out of thin air that not only causes the cycle of boom and bust by manipulating interest rates, which creates bubbles, but also keeps interest rates lower than they otherwise be so the big spenders in DC can run deficits and borrow ad infinitum…so far.
We need a major reorganization of the Federal government, to say the least. As far as the Federal Reserve is concerned, my new book, Why The Federal Reserve Sucks, reveals that the Fed undermines our economy and thus we need a national discussion about how to rein in its enormous power. If enough Americans read my book and demand a return to a free market economy based on real savings, then the future would be indeed bright.
If your organization or company wants to purchase at least 50 copies of the book, there is a substantial discount. Please message me on FB for pricing.
In the fall I intend to give the Raciti Memorial Lecture at Ramapo College: America, the Next 70 Years. More details will be forthcoming.
MMT is not so theoretical anymore. In all but name, it’s the description of Republican fiscal policy in this living moment.
Source: Jim Grant: The Trouble With Modern Monetary Theory