Free Republic

Stop! Stop! Stop! … all the printing! These people have to be stopped! We are talking about the nation’s unhinged monetary politburo domiciled in the Eccles Building (The Federal Reserve), of course. It is bad enough that their relentless inflation of financial assets has showered the 1% with untold trillions of windfall gains, but their ultimate crime is that they lured the nation’s elected politician into a veritable fiscal trance. Consequently, future generations will be lugging the service costs on insuperable public debts for years to come. For more than two decades these foolish PhDs and monetary apparatchiks drove the...

Jared Bernstein is perhaps the most influential "economist" in the United States. I put economist in quotes, despite his being an academic who has taught the subject and has advised Congress and the highest elected officials in America. I do so because he is a moron. He is such a moron that Paul Krugman himself admires him for his economic insights. He is that bad. ... This is absolutely priceless. And probably the most frightening clip you'll ever watch on the people in charge of the US economy. Jared Bernstein is literally the Chair of the Council of Economic Advisers,...

Price inflation is no coincidence. It is a policy. Governments, along with their so-called experts, attempt to persuade you that price inflation stems from anything other than the consistent, albeit slower, rise in aggregate prices year after year. Issuing more currency than the private sector demands, thus eroding its purchasing power and creating a constant annual transfer of wealth from real wages and deposit savings to the government. Oil prices are not a cause of inflation but a consequence. Prices increase as more units of the currency used to denominate the commodity shift to relatively scarce assets. Therefore, oil prices...

Fed Chair Powell yesterday said he doesn’t see the “stag” in stagflation. Really? Well, in Q1 in the US… it failed to show up as non-farm productivity – or nonfarm employee output per hour – rose at a measly 0.3% annualized rate after an upwardly revised 3.5% gain in the prior period (well below expectations)… Source: Bloomberg On the flip-side of that – and echoing the market-worrying ECI data earlier this week – Unit Labor Costs soared 4.7% in Q1 (well above the 4.0% expected and the 0.4% rise in Q4)… Source: Bloomberg So wage inflation is confirmed – rising...

No one can accurately predict where the stock market will go, but it is a fact that the Biden administration’s spending imperils every American. After a strong run in 2023 and early 2024, stock markets have been selling off lately. I cannot predict whether this market sell-off will continue, but I can state what has happened so far and speculate as to why it has happened and whether it will continue. In my opinion, anyone who says he can do more than speculate is deceived or lying. After closing at an all-time high of 5,254 on March 28, the S&P...

How much of your safety should you delegate to government?In the name of safety, the government has taken steps that critics say have denied citizens what used to be considered inalienable constitutional rights. Citizens are concerned that their right to freedom of speech under the First Amendment is being denied, ostensibly, to keep citizens safe from "harmful misinformation," and fear that the Second Amendment right to bear arms is being infringed upon to combat gun violence. Watchdogs further contend that citizens are being denied the Fifth Amendment's protection against self-incrimination and the Sixth Amendment's right to face one's accuser when...

White House Council of Economic Advisers Chair Jared Bernstein dismissed concerns that the economy is under-performing, saying "I can't get myself worked up over mere statistics in the GDP or CPI. Folks don't eat the GDP. The CPI includes volatile components like food, energy, and housing. If we exclude the price spikes in these areas inflation doesn't look so bad." "A key strength that our Republican critics overlook is that government spending remains robust," Bernstein added. "Under Bidenomics we're not at the mercy of private sector investments for economic growth. Their anti-social quest for increased profits is supplanted by a...

Janet Yellen, world class propagandist (US version of Baghdad Bob) and US Treasury Secretary under Biden, was so wrong about inflation. Instead of being “transitory”, turns out to be seemingly permanent. Today’s Case-Shiller home price report was released for February. The National Home Price index was up 6.4% year-over-year. But look at the explosion of M2 Money and home prices. Hmm. If we look at home prices and M2 Money on a year-over-year (YoY) basis, we can see the surge in money printing with COVID and the corresponding surge in home prices. As M2 Money growth slowed, the Case-Shiller National...

grocery prices '20 vs '24 January I January Price Item 2020 2024 I Increase Orange juice (128 fl oz) $2.99 $4.29 43.48% Coffee (12 oz) $6.99 $8.99 28.64% White bread (20 oz) $1.49 $1.99 33,56% Eggs (1 dozen) $1.49 $2.99 100.67% Chicken breast (2 Ibs) $4.99 $799 60.12% Ground beef (1 !b) $4.99 $6.99 40.08% Rice (1 Ib) $0.99 $1.49 50.51% Iceberg lettuce $0.99 $1.49 50.51% Tomatoes (4) $2.99 $3.99 33.44% Potatoes (3 Ibs) $2.99 $4.49 50.17% Milk (1 gallon) $2.99 $4.49 50.17% Butter (1 Ib) $3.99 $5.49 37.57% Bananas (2 Ibs) $0.99 $1.49 50.51% Cheerios (18 oz) $2.99 $4.29...

U.S. Central Command (CENTCOM) released the first photos of the pier under construction off the coast of Gaza which is intended to provide a means of getting aid to the war-torn region. "Construction of the floating JLOTS pier in the Mediterranean is underway," they wrote Monday:Pier-building beginsConstruction of the floating JLOTS pier in the Mediterranean is underway.The pier will support @USAID and humanitarian partners to receive and deliver humanitarian aid to the people of Gaza. @USTRANSCOM and @USEUCOM support the movement of of #humanitarianaid. pic.twitter.com/tC9J12wz4Z— U.S. Central Command (@CENTCOM) April 29, 2024JLOTS stands for "Joint Logistics Over-the-Shore."The pier was announced...

The University of Saint Katherine, a small nonprofit in North San Diego County, recently announced it will close May 18, citing “financial pressure due to unprecedented inflation and rising state-mandated labor costs.” It’s not alone. Nationwide, universities face financial hardships that appear to be getting worse. More than 100 colleges and universities have closed or merged, or announced plans to, over the last eight years, according to a tracker updated this month by Higher Ed Dive. The list, which does not include for-profit colleges and also omits mergers among public institutions, totals 108 since 2016. The closures span the spectrum...

Volodymyr Zelensky recently released a statement revealing that his regime and the government of Washington D.C. were in continued contact, “working on a bilateral security agreement” that would see “monetary aid” sent to Ukraine for an agreed-upon time of ten years.###Despite an individual’s personal feelings on the Russia-Ukraine war, the facts of the matter are that Ukraine is not a NATO country—and at this point, the cost-benefit analysis of being a member of the NATO pact is definitely not worth it for the American people—and Zelensky is not a good guy. This isn’t to say that Vladimir Putin is…but between...

The U.S. economy is showing signs of stagflation as growth slumps down and prices continue to surge for average Americans, experts told the Daily Caller News Foundation. U.S. annual economic growth measured just 1.6% in the first quarter of 2024, following a report of persistently high inflation in March of 3.5% year-over-year. The combination of both low growth and high inflation, in conjunction with continuously high amounts of government spending and debt, has led to signs of stagflation in the U.S. economy, which wreaked havoc on U.S. consumers throughout the 1970’s, according to experts who spoke to the DCNF. “It’s...

On Friday’s broadcast of Bloomberg’s “Balance of Power,” White House Council of Economic Advisers Chair Jared Bernstein reacted to the March PCE report that showed the yearly PCE inflation rate increasing with the annual core rate holding steady along with 0.3% monthly growth in both overall and core PCE, the same as it was in February by stating that “It was nice to hit the expectations number for the PCE, both headline and core, this morning.” And said that “we expect inflation to continue a bumpy path down towards target.”

JPMorgan Chase (JPM) CEO Jamie Dimon is concerned the US economy could be in for a repeat of the problems that hampered the country during the 1970s. "Yes, I think there’s a chance that can happen again," he said during an appearance Tuesday at the Economic Club of New York. The economy in that troubled decade was constrained by stagflation, a combination of low growth and high inflation, and Dimon said such a risk exists again. "I worry that it looks more like the seventies than we've seen before," he added during a question-and-answer session with Marie-Josee Kravis, chair of...

Month-over-month inflation has been rising on average 0.4% for the past three months and 0.3% for the past six months. If inflation continues to rise at this pace for the rest of the year, then year-over-year core CPI inflation will increase from currently 3.8% to 4% to 4.5%, see chart below. Even if month-over-month increases in core CPI comes in at the historical average of 0.2% for the rest of the year, then year-over-year inflation will still end the year at 3%. To get inflation back to the Fed’s 2% inflation target, core CPI for the rest of the year...

Congress is facing the most significant and transformational opportunity to strengthen the U.S. defense industrial base (DIB) since the end of World War II. The heritage equipment that the United States has provided to Ukraine for its self-defense in the face of the brazen and illegal invasion by Russian forces in 2022 needs to be replenished to ensure the United States is postured to continue to deter its adversaries. The new hardware will be produced at factories across the nation. Of the $113 billion appropriated by Congress to date related to the conflict in Ukraine, as much as $68 billion...

Immigration won’t decide the election. Polls have not yet captured what will. This may come as a surprise, but the top issue housing. More explicitly, it’s shelter costs.The EconomyThe economy is a very broad category that encompasses inflation, jobs, unemployment, wages, rent, and housing.Other polls split the economy in various pieces, such as inflation and jobs. Not a single poll mentioned housing specifically.Q: What is it that young voters really have on their minds? A: RentThe CPI Rose Sharply in March Led by Shelter and GasolineThe CPI rose 0.4 percent in March. Rent was up another 0.4 percent with gasoline...

Sen. Ron Johnson (R-Wis.) blasted the House for passing foreign aid bills, arguing Congress is spending money that “we don’t have” and that the U.S. should be focusing on securing its own borders instead. “We’re gonna further mortgage and plunder our children’s future, over $100 billion,” Johnson said during his Saturday morning appearance on NewsNation. “We spend close to $900 billion on defense, but every time there’s some kind of defense action seems like we need to do a supplemental.

Ukraine President Volodymyr Zelensky said he was “personally” grateful to “Speaker Mike Johnson for the decision that keeps history on the right track” after Johnson shepherded a $61 billion Ukraine aid package through the House Saturday. The image of scores of Democrats waving Ukraine flags and cheering on the House floor as the bill passed will forever sting the conservatives from whose ranks Johnson rose, only to serve them with the ultimate betrayal.