gdp

The elite playbook: blame the people so they fight each other.

From last Wednesday: As the Fed 'fights inflation' by increasing interest rates, its actions will not produce the hoped-for 'soft landing,' but rather the hard bust.

Central bankers follow inflation 'target' in their pursuit of 'price stability.' Not surprisingly, they usually miss their targets -- quite badly -- and we now are living one of those moments.

Instead of comparing people's incomes, we should compare how we spend our time now versus how we spent it in the past.

Wall Street is sure that the Federal Reserve will soon create a 'soft landing' by reducing inflation without triggering a recession. They must reconsider their convictions.

In November, food prices went up by 0.5% while energy prices went down by 1.6%.

People argued 26 years ago about whether or not the target inflation rate should go from 0% to 2%. We're now hearing that it should be 4% or 6%.

The Bureau of Labor Statistics of the U.S. government released new data on price inflation today, and it wasn't good. Before taking into account seasonal changes, the Consumer Price Index (CPI) showed that inflation rose 8.3% year over year in August, according to the BLS. That's the seventeenth month in a row that inflation has been higher than the Fed's arbitrary target of 2%. It's also the sixth month in a row that prices have gone up by more than 8%.

The Keynesians running our economic life may be reassured that the Fed cannot fail in a technical sense, but the public should be appalled.

Raise your hand if you're surprised that the trillions of dollars spent on COVID-19 relief led to billions of dollars in government waste, fraud, and abuse. I'm not, but you might think that this kind of carelessness with taxpayer money has never happened before based on recent news stories. Sad to say, this kind of waste and fraud are common in most government programs.