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Tag Archives: Guest Commentaries

Minimum Wage Hikes Kick in at Worst Possible Time for Small Businesses

The government response to the coronavirus pandemic has put extraordinary pressure on small businesses. And that pressure is about to increase thanks to yet another government action – minimum wage increases across the US.According to a study by Brookings released in September, more than 420,000 small businesses had closed their doors permanently since the beginning of the pandemic. That represents a staggaring 7.1% of all small businesses. That number has certainly increased.This should...

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The Perfidious Effects of Money Printing

There were a number of inauspicious records set in 2020 and the impacts will continue to reverberate through the economy in the future.The Federal Reserve created money at a record rate. It also increased its balance sheet to record levels. And not to be outdone, the US government set a budget deficit record.These three records were actually linked. The money printing and expansion of the Fed balance sheet were necessary to monetize the massive federal debt. And there is no sign that...

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This Fed Policy Is “Scandalous”

Peter Schiff has been saying that all of the “help” the US government and the Federal Reserve have offered up during the coronavirus pandemic isn’t helping. In fact, it’s made the situation worse. In a podcast last month, Peter said that all of the money printing and stimulus allowed people to keep spending, but they aren’t producing anything.The problem is government doesn’t seem to understand the difference between money that is actually earned by being productive and money you get just...

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Ron Paul: The Great Crackup Is Coming

Peter Schiff has been driving home the fact that the Fed’s extraordinary monetary policy isn’t helping the economy. In fact, it’s setting the stage to destroy it.Peter points out that the Fed seems to think inflation is the cure for what ails us. That means the monetary and fiscal policies that resulted from COVID are here to stay.In fact, they’re going to be expanded, especially here in the United States because we took on so much additional debt to fight COVID – now the problem is the...

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Price Inflation Doesn’t Tell the Whole Story

The Federal Reserve has increased the money supply by an astounding amount. This is by definition inflation. But the mainstream insists this isn’t a problem because we haven’t seen a big jump in the consumer price index. CPI has been creeping up, but it hasn’t reached the mythical 2% level. The Fed has signaled it will allow inflation to above that level for some time once it gets there. This should cause concern. As Peter Schiff said, the question is whether or not the Fed can keep doing...

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Central Bank Digital Currency: It’s All About Control

The People’s Bank of China was the first central bank to roll out a digital currency. The digital yuan recently got a boost when China’s biggest online retailer announced it has developed the first virtual platform to accept the Chinese digital currency.Digital currency is nothing more than a virtual banknote or coin that exists in a digital wallet on your smartphone instead of a billfold or a purse. Digital currencies issued by central banks are backed by the state, just like traditional...

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Could We Have a Free Market in Money?

We’ve written extensively about the government intentionally devaluing our money. As one economist put it, the intentionally inflationary policies of central banks and governments are “daylight robbery.” But what’s the solution to this problem?Economist Thorsten Polleit argues we need a free market in money. But is this possible? Wouldn’t this create monetary chaos?Polleit argues that it would not. He thinks that if people could choose freely, it may not take long for a good to emerge that...

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How the Fed Feeds the Boom-Bust Cycle

The central bankers at the Federal Reserve can be pretty clueless. A report issued by the Fed a few weeks ago serves as a prime example. The report was full of dire warnings. It expressed concern about “overvalued asset prices.” Yes, the Fed actually warned us about the stock market bubble. The report also said we should be worried about the surging levels of debt in the economy. “As many households continue to struggle, loan defaults may rise, leading to material losses,” the Fed report...

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Inflation Is Daylight Robbery

As central banks continue to inject trillions of dollars created out of thin air into the financial system, the mainstream generally sits backs and shrugs. But a few lonely voices in the wilderness continue to warn about the potential for price inflation and its nefarious effects on the average person.In a recent podcast, Peter Schiff warned that prices are going to surge because “the Fed is not going to take away the punch bowl.”Inflation is the elephant in the living room that nobody...

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Who Will Fix The National Debt? It Looks Like Nobody

The FY2020 budget deficit came in at $3.13 trillion. At some point, the US government will have to reckon with the debt and spending. But according to recent analysis from the nonpartisan Committee for a Responsible Budget, neither Trump nor Biden appear prepared to do so. In fact, its analysis shows Trump would only be slightly better than Biden when it comes to spending and debt.During the 2016 presidential campaign, Trump promised to deal with the skyrocketing national debt. In fact, he...

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