Tag: america
Dr. Doom: Stagflationary Debt Crisis Looms Ahead
Nouriel Roubini earned the nickname “Dr. Doom” during the housing bubble of the early 2000s, when he predicted a crash in housing prices would blow up into a larger financial crisis and deep recession. He is one of the few economists who can honestly claim to have predicted the major events that came to...
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Obamacare Back Stories
The U.S. Supreme Court has again upheld the Affordable Care Act (ACA), this time on the grounds that the plaintiff states lack standing to make the case, not on its constitutional merits or practical worthiness. That calls for some review of the way the ACA actually functioned.  In California, the ACA created eligibility issues...
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Inflation Facts
Widely reported in the financial news, inflation skyrocketed in March–the Consumer Price Index was up 0.8% in just one month. Year over year, the inflation rate from March 2020 to March 2021 was 4.2%. Many people have told me they think those figures are understated from their own shopping experience, but I’m taking all...
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Lockdown-Led Big City Exodus: An Economic Boost to Small Towns?
Smaller cities and bigger towns in the heart of America are seeing a considerable influx of new residents, and with this, we should soon expect to see a boost in their economies as well. But while there is enough data to support the notion that Americans in large cities like New York City and...
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Thomas Sowell on Truth and Proportionality
“Even the best things come to an end,” wrote Thomas Sowell in late 2016, as he shut down his newspaper column in order to “spend less time following politics and more time on my photography.” Four years later, when he turned 90, the economist and Hoover Institution fellow was back with Charter Schools and...
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Federal Student Loan Program Is Losing Billions
In 2004, Barack Obama was running for a seat in the U.S. Senate in Illinois. Speaking before a group of students at Lincoln Land Community College in Springfield, Illinois, he voiced an inspirational quote: “We have an obligation and a responsibility to be investing in our students and our schools. We must make sure...
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LeBron James Makes One Right Call but Misses Another
Last month, actress Lori Loughlin was sentenced to two months in federal prison for her role in the college admissions scandal. As it turns out, she gets to serve her sentence at the prison of her choice, and that didn’t sit well with NBA star LeBron James.  “I’m laughing cause sometimes you have to...
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National Debt to Nearly Double GDP by 2050
The Congressional Budget Office has finally released its 2020 Long Term Budget Outlook. Delayed for months, the CBO’s budget analysis confirms the coronavirus recession has made the U.S. government’s fiscal situation much worse. How much worse? In its 2019 outlook, the CBO expected the publicly held portion of the debt would hit 144 percent...
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The Treason of the Intellectuals
One hundred and fifty well-known intellectuals from the English-speaking world, a majority of them from the left, have published an open letter in Harper’s Magazine railing against intolerance, censorship, obscurantism. They have aimed their guns not only against the enemy on the right, but also against their counterparts on the left. And they have...
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The Devil in the PPP’s Bailout Details
Of all the actions the U.S. government has taken during the coronavirus pandemic, the Paycheck Protection Program (PPP) has been one of the most effective in achieving its desired results. The PPP provided $510 billion in emergency loans to small businesses to let them continue paying the incomes of their employees as they were...
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