Free Republic

Jackson Browne said it best. The US economy is “running on empty.” M2 Money growth is negative. And M2 Money growth has been negative for the last year. The third and largest round of fiscal stimulus was in March of 2021. That’s when Biden’s popularity peaked at 55.1 percent. Base image from 588 Biden Approval Ratings. Why Biden’s Approval Rating Is Miserable Income is rising and so are wages. Even real income is up. But real wages are another matter. Personal income data from the BEA, hourly wages from the BLS, real hourly earnings and chart by Mish. Rental income...

Like the old E.F. Hutton ads, “When Ben Bernanke speaks, people listen.” The Euro: Gold: US Treasury 10 year yield: The reaction to Bernanke’s speech is less than enthusiastic. Apparently, the market wanted a more firm statement on more quantitative easing (and Senator Schumer from New York said so in the Senate hearing). In Bernanke’s defense (which no Senator acknowledged), M2 Money Velocity is falling below levels not seen in modern times. If you watch Bernanke’s Senate presentation, Senators Toomey (PA) and Corker (TN) win the award for best observations and questions. No one expressed the sentiment that The Fed...