President Trump was elected in part because he promised to reduce prices and not drag the country into foreign wars. Sadly, President Trump has adopted a tariff policy that will raise prices and abandoned his “America First” foreign policy in favor of a return to Bush-era neoconservatism. Despite criticizing President Biden for bombing Yemen, President... Read More

The US and China came closer to a full-fledged trade war last week when China imposed tariffs of up to 15 percent on key US agricultural exports. This was retaliation for President Trump’s increasing of tariffs on Chinese exports to the United States from 10 percent to 20 percent. China’s retaliatory tariffs show how export-dependent... Read More

President Trump recently issued an executive order instructing the US Mint to stop producing pennies. The reason for this is it costs nearly four cents to produce one penny. That’s right: the US government can’t even make pennies without losing money! President Trump may have signed the death certificate, but the Federal Reserve is the... Read More

“Delivering Emergency Price Relief for American Families and Defeating the Cost-of-Living Crisis” is the title of one of the many executive orders President Trump issued in his first week back in the Oval Office. This executive order directs federal agencies to “deliver emergency price relief” to the American people by reducing federal regulations that increase... Read More

Two days after Donald Trump became the first American since Grover Cleveland to win nonconsecutive presidential elections, the Federal Reserve announced a quarter percent cut in interest rates. Following this announcement, Fed Chairman Jerome Powell held a press conference where he said that he would not comply with any presidential request that he step down... Read More

Public opinion polls consistently show the economy is one of the top issues, if not the top issue, for American voters. This may strike some as odd, since official government statistics show low unemployment and declining price inflation, suggesting the Federal Reserve has engineered a “soft landing” bringing down inflation without causing a recession. So... Read More

Many investors, businesses, and consumers cheered the Federal Reserve’s first interest rate cut since March of 2020. The Fed’s 50 basis points interest rate reduction was larger than many Fed watchers anticipated and was followed by suggestions that there are more rate cuts on the way. A drop in borrowing costs following the Fed’s rate... Read More

The Penn Wharton Budget Model, a think tank headquartered at the University of Pennsylvania, recently released a study claiming former President Donald Trump’s economic plans would add about four trillion dollars to the national deficit over ten years while Vice President Kamala Harris’s economic plans would add about two trillion dollars. Vice President Harris would... Read More

Former President and current Republican Presidential Nominee Donald Trump recently renewed his criticisms of the Federal Reserve. He suggested that, if he returns to the White House next year, he will push Congress to pass legislation giving the president at least a say in the Fed’s decisions regarding interest rates. President Trump thinks that because... Read More

Last week the national debt reached 35 trillion dollars, a mere seven months after the debt reached 34 trillion dollars. To put this in perspective, the national debt first reached one trillion dollars in October of 1981, almost 200 years after the Constitution’s ratification! The fact that the government was adding one trillion dollars in... Read More

The 2024 Republican platform promises that, if Donald Trump returns to the White House and Republicans gain complete control of Congress, they will reduce inflation. The platform contains some proposals, such as reducing regulations and extending the 2017 tax reductions, that may help lower prices in some sectors and spur economic growth. However, the GOP... Read More

Donald Trump recently promised that, if he wins the November election, he will support eliminating taxes on tips as part of his proposal to renew and expand the 2017 tax cuts. This tax law change would be a long overdue boost for millions of Americans. Tips often comprise a substantial portion of the earnings of... Read More

President Biden recently raised taxes on American consumers and businesses and may have hastened the end of the dollar’s world reserve currency status. President Biden did this by increasing tariffs on Chinese imports. Specifically, President Biden raised tariffs on products including Chinese-produced steel and aluminum and many components imported from China for use in manufacturing... Read More

According to new reports from the Social Security and Medicare trustees, Social Security and a Medicare fund that pays for hospital expenses will both begin running deficits in 2035 and 2036. Disappointingly, but not surprisingly, Congress was too preoccupied spending billions more on military aid for foreign countries and banning TikTok to pay attention to... Read More

Last month, the US Senate passed a resolution saying the over 34 trillion dollars (and growing) national debt threatens national security. A few days later, a bipartisan majority of the Senate voted for a 1.2 trillion dollars spending bill. In addition to the usual increases in war and welfare spending, the bill funds gender transitioning... Read More

This weekend’s late-night spending vote in Congress seems like another in an endless series of sequels to a bad suspense movie. Just at the brink of “disaster,” just before the stroke of midnight, Congress pulls off a miracle and passes an omnibus bill to save us from a “government shutdown!” The heroes have saved the... Read More

President Biden may have recently made history as the first president to discuss snack chips in the State of the Union message. He used snack chips to illustrate the phenomenon of shrinkflation. Shrinkflation occurs when businesses reduce the amount of goods sold in order to avoid raising prices. President Biden pointed out that businesses hope... Read More

Last week President Biden delivered a dark and angry speech meant to convince the low percentage of Americans who still feel positive about his presidency that everything is fine and will only get better if he is re-elected for a second term. Unfortunately we have come a long way from the optimism of a Ronald... Read More

According to the Federal Reserve, credit card delinquencies increased by 50 percent in 2023, while consumer debt grew to 17.5 trillion dollars. A recent survey by Clever Real Estate found that three in five Americans have credit card debt and that 23 percent of Americans increase their credit card debt every month. The survey also... Read More

Select politicians, government officials, economic elites, and experts arriving at the annual World Economic Forum meeting in Davos, Switzerland were greeted with an open letter signed by more than 250 billionaires and millionaires. The signers request their respective governments raise their taxes. The letter signers are concerned about “inequality” that they say “has reached a... Read More

A clip from the 1990 movie Home Alone where the lead character purchases groceries, household goods, and toys recently went viral because he paid a total of $19.83 whereas today the same purchase would cost over three times as much. Ironically, while this evidence of the Federal Reserve’s failure to maintain the dollar’s value was... Read More

President Biden recently repeated the claim that high prices are caused by greedy businesses. Biden is not alone in trying to gaslight the people into thinking price inflation is rooted in the actions of private individuals and not the fiat money system Americans have lived under since 1971. In the media we see excessive consumer... Read More

Donald Trump’s legal troubles, the possibility that Joe Biden will face an impeachment inquiry, and other stories related to the upcoming presidential election, caused the American media to miss a story of potentially greater significance. This was the decision of the BRICS (Brazil, Russia, India, China, and South Africa), who formed their alliance to challenge... Read More

Congress’ top priority this fall will be passing legislation funding the government and avoiding a “shutdown.” As of this writing, it appears unlikely that the Republican-controlled House will be able to make a deal with President Biden and the Senate Democrats on a long-term spending bill. Instead, they will likely pass a short-term funding bill... Read More

I am not a big fan of Federal Government disaster relief. Too much of the time the money never gets to those who need it most, and too often Washington’s armies of disaster “experts” are more interested in pushing people around than helping them. Nevertheless, it’s hard to look at recent footage of the devastation... Read More