According to the Bureau of Labor Statistics, consumer prices are rising at a 2.1% annual rate. This suggests to us that the current stock market boom will die with a bang, rather than a whimper. Fed economists say they don’t think inflation rates are rising. They think the most recent reading is a fluke. But …
Argentina is suffering the ravages of government debasement of the currency — i.e., inflation, the process by which government pays for its ever-increasing debts and bills by simply printing more paper currency. The expanded money supply results in a lower value of everyone’s money, which is reflected in the rising prices of the things that money buys.
Socialism is the big lie of the 20th century. While it promised prosperity, equality, and security, it delivered poverty, misery, and tyranny. Equality was achieved only in the sense that everyone was equal in his or her misery. In the same way that a Ponzi scheme or chain letter initially succeeds but eventually collapses, socialism …
I was out shopping for a new winter coat, hopping from store to store looking for a good deal. To my astonishment, it was almost impossible not to find a good deal. Coats of a quality that once cost hundreds of dollars were everywhere, with prices ranging from $65-150. I’m sure I could have found …