ECONOMICS

Authored by Mihai Macovei via The Mises Institute,

Economic growth in the United States accelerated to a 2.4 percent annualized rate in the second quarter of 2023, picking up from 2.0 percent in the first quarter, and climbing well above the 1.8 percent rate predicted by economists. Many analysts are surprised that the US economy has continued to expand at a robust pace despite the Federal Reserve’s (Fed) aggressive tightening on monetary policy.

The Fed raised interest (more…)

By Brian McGlinchey via starkrealities.substack.com

As millions of Americans struggle to recover from the latest hurricane, state government officials are issuing stern reminders that criminal penalties loom for anyone who engages in “price gouging.”

“Price gouging” is the pejorative label applied to the charging of substantially higher prices for goods and services that are in high demand and short supply in disaster-stricken areas. Anti-price gouging laws typically apply to (more…)

By George Lei, Bloomberg Markets Live reporter and strategist

Forecasts for China’s 2023 and 2024 economic growth have been slashed on Wall Street over the past few weeks. The world’s second-largest economy now risks missing Beijing’s own growth target for a second straight year and could expand at a sub-5% pace for three years in a row — something unheard of since the death of Mao Zedong in 1976.

Stalling growth will surely have longer-term geopolitical implications. (more…)