Census Bureau

We Are All (Almost) Japanese Now

There has been no such upside to QE in any of the channels and pathways that economists were absolutely sure would result. Instead, without any gains, there has only been engineered a massive economic hole that is “unexpectedly” widening and deepening again. Apparently the “slippery slope” of economic denial is likewise as universal as the aligned direction of economic progression across the world. All economist-created roads lead to "more global stimulus," and fittingly, we are almost all Japanese now...

Peter Schiff: The Fed Has Created A "Bad Is Good" Economy

The popular belief that the U.S. economy has been steadily recovering has endured months of disappointing data without losing much of its appeal. But the downright dismal September jobs report that was released last Friday may prove to be the flashing red beacon that even the most skilled apologists can't explain away. But rather than questioning the Fed's credibility in missing another forecast, most economists are lauding it for supposedly seeing weakness that others missed, which allowed it to wisely do nothing in September. But this is simply a continuation of the Fed's long-standing playbook: Talk the economy up through optimistic statements while continually holding off an actual rate hike that the Fed is concerned could undermine an economy teetering on the brink of recession.

The US Shale Oil Industry Will Simply Vanish

Without government intervention the “invisible hand” of the world oil market will simply bankrupt US shale companies and with it destroys the US shale oil industry.

The 80/20 Rule Is Crushing The Economy

In business, the 80/20 rule states that 80% of your business will come from 20% of your customers. In an economy that is more than 2/3rds driven by consumption, such an imbalance of the "have" and "have not's" impedes real economic growth.

The Looming Medicaid Time-Bomb

Between the demographic time bomb about to go off - that is, the growth of the elderly population far exceeding the growth of the working age population by several orders of magnitude - and then the weak economy, the huge expansion of entitlements under the health care law, and the dramatic increases of the costs of those entitlements, including for labor, what could possibly go wrong?

It's Time To Get Your Gold Out Of The U.S.

Most foreign countries have similar regulations concerning the import and export of gold bullion and collectible coins. These regulations tend to track U.S. rules closely, and generally, as long as people follow them, there isn’t much friction over international travel with precious metals. Recently, however, we’ve been hearing reports that some foreign countries are starting to ask more questions, and require more searches, when someone declares that they are transporting gold or other precious-metal coins.

Fourth Turning: Crisis Of Trust, Part 3

The solution is not to let politicians redistribute the wealth from the rich to the poor. Crony capitalism must be replaced by true free market capitalism, practiced with integrity, fairness, principled conduct, intelligence, and high moral standards. Profits generated by corporations are not evil, but seeking profits at any cost to society is reckless, shortsighted and immoral. Capitalism without capital is destined for failure. When corporate CEOs, Wall Street bankers, and shady billionaires exercise undue influence over the financial, political and judicial systems, their short-term quarterly profit mindset and voracious appetite for riches override the best interests of the people and create a sick, warped, repressive society. Today our system is in the grasp of psychopaths whose hubris and myopic focus on enriching themselves will ultimately be their downfall.

What Recovery? 9.4 Million More Americans Below Poverty Line Than Pre-Crisis

Despite the Fed continuing to kick this down the road, they continue to claim that we are in the middle of an ongoing recovery. There’s just one problem with that: things are getting worse than pre-crisis levels for millions of the poorest Americans. Possibly even more concerning is the fact that the amount of Americans living below the poverty line has soared since 2007.

Austrian Economics, Monetary Freedom, & America's Economic Roller-Coaster

It is time for a radical denationalization of money, a privatization of the monetary and banking system through a separation of government from money and all forms of financial intermediation. That is the pathway to ending the cycles of booms and busts, and creating the market-based institutional framework for sustainable economic growth and betterment. It is time for monetary freedom to replace the out-of-date belief in government monetary central planning.