ECONOMICS

Authored by Jeffrey Tucker via The Epoch Times,

From my first class in national income accounting, I’ve had grave doubts about how government spending has been part of the Gross Domestic Product numbers. The decision to do that came in 1934, about the time that most governments in the world were trying to cure the Great Depression by spending money and running deficits.

Two years later, John Maynard Keynes, the world’s most respected economist, said that this is (more…)

Back in February, economists and strategists were stunned by the February UMichigan consumer sentiment survey which indicated an absolutely ridiculous surge in 1Yr inflation expectations (from 3.3% to 4.3%), but not because everyone expects more inflation but because Democrats now expect something approaching hyperinflation at 5.1%, even as Republicans expect 0.0% inflation in 1 year (and how the average of these two adds up to 4.3%, maybe socialist UMich "professor" Justin (more…)

One month ago, when we first  realized just how much fat Elon Musk's DOGE was slashing from the government money laundering apparatus, we made an observation: so much (deep state laundered) money was about to come out of the economy (one way or another), the US would enter a recession, first in Washington DC (something which others such as Michael Hartnett have since confirmed) and then across the US.

We were surprised at how much pushback we got, especially from supporters of (more…)