The US government and Western media enjoy accusing other nations of producing unreliable economic numbers, but it is widely recognised that there are no national economic statistics in the world as deliberately unreliable and misleading as those of the US. One notable feature of the Great Transformation was the US government’s innovativeness in fabricating statistics... Read More

The Federal Reserve is not conducting an anti-inflationary policy. It is conducting an anti-people policy. The rising prices are not due to excessive consumer demand that needs to be curtailed by choking off credit. The rise in prices are the direct consequence of the idiot Biden regimes’ unnecessary Covid lockdowns and the idiot Biden regime’s... Read More

[Research by Edwin S. Rubenstein] A funny thing happened to the usual cheerleading that greeted the June job report [U.S. Economy Added 372,000 Jobs in June, Defying Slowdown Fears, by Lydia DePillis, NYT, July 8, 2022]. In fact several funny things: a continued Biden Rush at the southern border; record inflation numbers; and (despite the... Read More

The Affordable Care Act, No Child Left Behind, and the USA PATRIOT Act received new competition for the title of Most Inappropriately Named Bill when Senate Democrats unveiled the Inflation Reduction Act. This bill will not only increase inflation, it will also increase government spending and taxes. Inflation is the act of money creation by... Read More

As I recently wrote, the US no longer has an economy. America is a market for goods produced offshore with foreign labor that US global corporations sell to Americans. The US which once produced its own manufactured goods and food now imports much of it. The result is that fewer and fewer American incomes are... Read More

Inflation is a cancer. It eats away at savings and consumer confidence. But the tools the United States government uses to fight inflation are often worse; they're a form of chemotherapy that's even more likely to kill the economy than the underlying disease. When your car is careening down a hill, slamming on the brakes... Read More

The US financial sector has long looted other countries. A number of participants have described the process. First a country is enticed with bribes to the leaders to take out loans that cannot be serviced or repaid. Then in comes the IMF. Austerity is imposed on the population. Public services and employment are cut to... Read More

A recent video shows penguins at a Japanese aquarium rejecting the cheap fish the aquarium has substituted for the higher quality fish the penguins are used to receiving. The reason the aquarium switched fish is because rampant inflation has made it impossible for the aquarium to afford the higher quality fish. The penguins’ reaction illustrates... Read More

“Deglobalizing� and “dedollarizing� have been much in the news. Reducing dependence on the global supply chain and the U.S. dollar are trends that are happening not just internationally but locally. In the United States, we have seen movements both for local food independence and to divest from Wall Street banks. The burgeoning cryptocurrency movement is... Read More

Normally, recessions are the result of a reduction in liquidity by the Federal Reserve, the central bank, which is signaled by a rise in interest rates. Normally, recessions are short-run affairs of 6 to 9 months. Unemployment, which is as costly in its way as inflation, causes the Federal Reserve to relent and to increase... Read More

The Federal Reserve’s recent 0.75 percent increase in its “benchmark� interest rate is the Fed’s highest rate increase since 1994. This increase is a sign that the Fed has finally realized that price inflation is more persistent and widespread than the Fed initially believed. Stocks have fallen much lately. This is in part because of... Read More

Yesterday the Fed raised short term interest rates by three quarters of one percent, and the stock market rose. The stock market did not rise because of the rate hike. The stock market rose because the Atlanta Federal Reserve bank dropped its forecast for second quarter (ends June 30) GDP growth to zero — 0.0... Read More

If the inflation narrative we are being fed is true, the sanctions policy of the US government makes no sense as the worst sufferers are the American and European populations who are paying for the supply restrictions in higher prices and interest rates. As Russia is an exporter of energy and minerals, higher prices result... Read More

"Sometimes nothing is a real cool hand." In the movie classic "Cool Hand Luke," the convict Luke, played by Paul Newman, explains that to his fellow inmates after winning the pot in a hand of poker without even a pair of deuces. President Joe Biden should take notice. For, right now, "nothing" is the hand... Read More

The Biden administration and its allies continue to use Russian President Vladimir Putin as the convenient excuse for their economic failures. The most recent falsehood is that Russia’s invasion of Ukraine caused March’s 8.5 percent year-over-year increase in the Consumer Price Index (CPI). Prices were surging long before Russian troops entered Ukraine. Furthermore, Putin did... Read More

The US government’s Consumer Price Index indicates prices have increased 7.9 percent in the last year. While this statistic shows the highest rate of increase in forty years, it still understates the amount prices have increased, in part because the statistic is manipulated to minimize reported price increases. A stealth form of inflation is “shrinkflation.�... Read More

Welp. Jim Bolden has officially done the deed: he’s announced a full ban on Russian oil and gas imports. He says you’re just going to have to deal with the price hikes on gasoline. He says it’s not his fault, don’t ever blame him again. He is doing a great job at everything. He also... Read More

Franklin D. Roosevelt, scion of one of the wealthiest families in American history, was worth about $67 million in today's dollars. He attended the prestigious Groton boarding school, Harvard College and Columbia Law. He was relatable to the masses despite his privileged background. In the words of a PBS documentary, he was "a patrician who... Read More

According to numbers released by the US government, consumer prices have increased by 7.5 percent in the past year, the steepest increase since 1982. The actual price increases are even worse than the government numbers suggest, given that the “official� statistics are manipulated to understate the real rate of price increases. According to John Williams... Read More