inflation

Words have meaning, and definitions can become ambiguous and 'slippery.' Language naturally evolves as words change over time, but frequently a key meaning is lost and there is no longer a single term to define a notion. This has been the case with the term 'inflation,' a prevalent one.

Keynesian programs hurt the things they were meant to help. The United States is the best example of this. A few years ago, in 2021, I talked to Judy Shelton. She told me that the recovery would be much better without the stimulus package, and she was right. Massive government spending and creating more money have hurt the economy and made people poorer.

So far this year, the United States has been hit by wet, cold, and extreme weather, which will make food prices go up at the grocery store.

When they spend tax money, politicians love to say that they are 'investing' in the economy. But how do they know that their 'investments' are meeting customers' most important needs?

Economics is all about the value of missed chances.

Some claim that this is not a tax because of definitional difficulties, yet it seems appropriate to term it a tax when government action transfers wealth from a group of people to themselves.

A billion here and a billion there adds up to real money. When it comes to Fed losses, we are now talking about real money.

No one, let alone the government, is in a good position to know what the long-term effects of a potentially disruptive innovation will be.

These days, the Fed and Chairman Jerome Powell are claiming the title of 'inflation fighters.' The more appropriate moniker should be 'inflationists.'

The Fed is insolvent, and that means that it will bail itself out by printing money. For ordinary people, that means inflation and a rising cost of living.