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Tag Archives: inflation

Some Non-Covid Links

David Henderson is appalled at the Biden administration’s assault on economic freedom and prosperity. A slice: Arguably the most intrusive regulation the Biden administration proposes is the one on people’s accounts in financial institutions. USA Today recently corrected an InfoWars exaggeration of the plan. The InfoWars headline: “Biden’s Treasury Dept. Declares IRS Will Monitor Transactions of ALL U.S. Accounts Over $600.” USA Today pointed out two mistakes. First, the Treasury can’t...

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Peter Schiff: Transitory Permanence

The inflation that we were emphatically told would be transitory and unmoored continues to persist and entrench. As the troubles gather momentum Washington is doing its best to ignore the problem or actively make it worse.The latest batch of data shows that the Consumer Price Index rose 5.4% in September, the 5th consecutive month that year over year inflation came in at more than 5%. The figure rises to 6.5% if we project the inflation levels of the first 9 months of 2021 to the entire...

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Stagflation Warning: Atlanta Fed GDP Estimate at 0.5%

As governments shut down the economy in response to COVID-19 and the Federal Reserve put money printing into hyperdrive, we warned that it was a recipe for stagflation. Today, it looks like stagnation is here.Stagflation is an economic environment with rapidly rising prices, a weak labor market, and low GDP growth. It’s looking more and more like we have all three elements.We’ve primarily focused on the inflationary aspect of stagflation. There is no denying that prices are rising...

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Peter Schiff: Gold Is an Inflation Safe Haven, Not Bonds

Gold and bonds are both considered to be safe havens. But in a recent podcast, Peter explained why bonds are not a safe haven in an inflationary environment. In fact, bonds – including US Treasuries – are risk assets when inflation is running hot. If you want safety from inflation, you need to buy gold.Another gold rally fizzled this week when bond yields pushed up, sparked by rising oil prices. Peter said nothing happening in the bond market should have been a drag on gold and silver....

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Some Non-Covid Links

Phil Magness writes, in the Wall Street Journal, on the antiracist history of the school-choice movement – and of the racist history of opposition to school choice. A slice: Is the school choice movement historically tainted by racism? American Federation of Teachers boss Randi Weingarten described vouchers in 2017 as “slightly more polite cousins of segregation.” Historian Nancy MacLean recently depicted vouchers as a product of an unholy alliance between economist Milton Friedman and...

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Dollar Selling Ends In The Overnight Markets…

A Pfennig For Your Thoughts October 18, 2021 * Gold’s recent gains were nearly wiped out on Friday * The Fed/ Cabal/ Cartel tells us we’ve got inflation all wrong!  Good Day… And a Marvelous Monday to you… Who turned off the heat? I woke up yesterday to a temperature of 39 degrees! Chilly, for sure, and I’m no fan of cold weather, so this quick change to chilly weather had me piling on clothes to combat it! I even had to break out the long pants! I had lived in shorts for 9 months, so I...

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Peter Schiff: Stock Up Now! Inflation Could Get Very Ugly

The price of pretty much everything is rising precipitously. The CPI for September came in above expectations with a month-on-month increase of 0.4%. Peter Schiff appeared on Unfiltered with Dan Bongino to talk about inflation in Joe Biden’s America. Peter said you should stock up now because things could get ugly really quickly.Bongino pointed out that while wages are rising, they aren’t rising as fast as prices. Wages have risen 4.6% while inflation has surged by 5.4% — according to...

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Some Non-Covid Links

George Selgin pens a brilliant open letter to Comptroller of the Currency nominee Saule Omarova. A slice: In my opinion, the changes you advocate, were they to come about, would have harmful, if not disastrous, consequences. By saying so, I don’t at all mean to suggest that bankers today allocate credit flawlessly: far from it. I know that they sometimes fail to get credit to certain credit-worthy applicants, while lending recklessly to less worthy ones; and I understand that the...

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The Amount of Government Spending Is Not Independent of the Means of Financing

Here’s a letter to my friend Richard McKenzie: Richard: In your latest, excellent post at EconLog you quote Milton Friedman’s insistence that “the true tax” is “how much government is spending.” You quote Friedman further: “If you’re not paying for it in the form of explicit taxes, you’re paying for it indirectly in the form of inflation or in the form of borrowing.” Friedman’s point is both correct and important, and you’re right to remind readers of it. It’s a reality that too many...

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Some Non-Covid Links

My GMU Econ colleague Dan Klein takes a careful look at the history of the use of the word “liberal.” Here’s his conclusion: We make our own semantic decisions, and they reflect our ideology. If a historian were to speak of the “liberalism of the Bolshevik Revolution,” my beef wouldn’t be that he didn’t study the Bolsheviks carefully enough. It would be a broader beef about how he uses “liberal.” Our decisions on semantics express broader moral and political sensibilities. In my...

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