Part two of a two-part series. There were big price shifts up and down in August, making it difficult to pick up a clear signal about inflation. However, if consumers…
What Would Paul Volcker Do?
Part one of a two-part series. Interest rates have been near zero for the past 15 years, except for a brief period when they rose as high as 2½%. That’s…
$6 Trillion and Counting
Part two of a two-part series. When the economy is fully recovered, the Fed’s zero interest rate policy (ZIRP) will need to continue to support the Biden Administration’s record spending.…
American Rescue Plan Won’t Save Us: Part One
Part one of a two-part series. “Act big,” Treasury Secretary Janet Yellen said at her confirmation hearing. And President Joseph R. Biden is doing just that. During his first day…
Why the U.S. Is Broke: Part Four
Fourth of four parts. New Spending? Given the level of U.S. debt, you’d think politicians would be spending less and seeking ways to at least slow the speed at which…
Why the U.S. Is Broke: Part Three
So why do we have so much debt? The federal budget can help answer that question. The largest items in the federal budget are Medicare and Medicaid, which account for…
Why the U.S. Is Broke: Part Two
Second of four parts. Defense Spending, Tax Reform and Debt But why are we in so much debt? Some have blamed defense spending. For example, Doug Bandlow, who served as…
Why the U.S. Is Broke
First of four parts. We should have been alarmed when the accumulated federal debt reached $1 trillion. Ronald Reagan was president then. Today, our deficit regularly exceeds $1 trillion each…
Where They Stand, Part Six: Federal Debt
What may be the most pressing issue when the pandemic ends has not even been addressed by either presidential candidate. Thanks to the pandemic and the economic lockdown it produced,…
The New Abnormal
Part one of a two-part series. “There is nothing normal about the nature of this cycle.” …