Central banks are obsessed with boosting inflation, but the “why inflation is good” arguments make no sense for households being ravaged by inflation. The basic argument is that inflation makes it easier for debtors to service their debts. But this…
The majority of American households feel poorer because they are poorer. Real (i.e. adjusted for inflation) median household income has declined for decades, and income gains are concentrated in the top 5%: Even more devastating, wages’ share of GDP has…
The consequence of policies that exacerbate injustice, inequality and double-bind demands is a madness that will find a social and economic outlet somewhere, sometime. We all know crazy-makers: people who make contradictory claims about reality, who say one thing and…
The consequence of policies that exacerbate injustice, inequality and double-bind demands is a madness that will find a social and economic outlet somewhere, sometime. We all know crazy-makers: people who make contradictory claims about reality, who say one thing and…
New Orders are in recessionary territory. The financial news is astonishingly rosy: record trade surpluses in China, positive surprises in Europe, the best run of new jobs added to the U.S. economy since the go-go 1990s, and the gift that…