Tag: economy
$3.5 Trillion Does Not Equal $0
President Joe Biden is a lot like President Donald Trump. He likes to use Twitter to gaslight his critics. How else can you explain President Biden’s September 25, 2021 tweet, in which he claims his Build Back Better Agenda will not cost anything? My Build Back Better Agenda costs zero dollars. Instead of wasting...
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Entrepreneurial Economies
Academic institutions increasingly are recognizing the importance of entrepreneurship to the performance of an economy, and in response, many (including my own institution, Florida State University) have established entrepreneurship programs to give students some skills that can help them succeed as entrepreneurs. I’m supportive of these efforts, but the degree to which individuals in...
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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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“Dire Consequences” for Most Americans from $3.5T Infrastructure Bill
Stanley Druckenmiller is one of the most influential investors in America today. He became a billionaire himself by making billions more for his clients as a fund manager. At the time he chose to close his asset management firm Duquesne Capital in 2010, after more than 30 years of investing other people’s money, it...
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Zoomers Aren’t Waiting for a College Degree to Secure Their Financial Future
Americans born between 1997 and 2012, otherwise known as Gen Z or zoomers, appear to be in a hurry to make money. After witnessing millennials drown in debt over college, 67% of zoomers say their top concern is being able to afford higher education. Furthermore, one in every five zoomers say they want to...
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Most Millennials Live Paycheck to Paycheck. Financial Literacy is Key to Their Freedom
Millennials are on a tight budget, even those making six-digit figures.  According to a new survey by PYMNTS and LendingClub, 70% of millennials are living paycheck to paycheck. Most baby boomers, on the other hand, are living the life, with only 40% claiming they are in the same conditions.  In its analysis of the...
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The Biden Budget: Pandemic Spending That Never Ends
President Biden released his first budget proposal on Friday, May 28, 2021. Just ahead of the Memorial Day Holiday weekend. That wasn’t a mistake. The timing is part of a well-established practice by politicians called a Friday news dump. If they know the news is bad for them, they dump it on Friday, when...
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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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Fed Chief Says U.S. on Unsustainable Fiscal Path
Do the U.S. national debt and the government’s budget deficits matter? If you listen to the economists shaping the Biden administration’s policy agenda, they say they do not. Their basic argument is that with interest rates so low, the government can borrow as much as politicians want to spend. They think they never have...
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Who Is Paying for President Biden’s Spending?
When President Joe Biden was sworn into office on January 20, 2021, the U.S. government’s total public debt outstanding stood at $20,751.9 billion. The chart below shows who Uncle Sam borrowed all that money from on that date:
  • Catalyst
  • MyGovCost.org
  • FDAReview.org
  • OnPower.org
  • elindependent.org