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The Federal Reserve Doesn’t Understand Money

money capitol

Yesterday Ben Bernanke, former chairman of the Federal Reserve, published an asinine editorial in the Wall Street Journal describing how the central bank- and the central bank only- saved the economy through artificially suppressing interest rates. As if this blatantly irrational line of reasoning wasn’t comical enough, Bernanke further went on to browbeat Fed critics as not doing “their bit” ...

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Getting Real: Understanding the ‘Gig Economy’

Watching CNBC and reading economist blogs like ZeroHedge render a certain perspective on the American economy – I’ve decided to give mine. America is steadily evolving away from the democrat-favored, 8:30a-to-whatever, 40+ hour, single-job work-week to eith multiple 15-20 hour per week part-time jobs or the high-risk world of entrepreneurship. Check out our multi-part series on the ‘gig economy’ Part One: So ...

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Gig Economy: Working in Retail

Wal-mart front

As the American economy continues to slip into the crapper, more of us are taking multiple part-time jobs (gigs) to fill in the holes in our finances. Last week, I wrote about my UPS pre-loader early morning job, today – retail! See the rest of the ‘Gig Economy’ series: Part One: So you want to work as a UPS pre-loader ...

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Gig-economy: Why take a job as a UPS pre-loader?

UPS pre-loader image

Why would anyone consider a package loading job with UPS or Fedex? As the economy drives more Americans into part-time work and the “gig-economy” UPS and Fedex look appealing as they fill a time slot that most other part-time jobs don’t. I took a job as a UPS pre-loader to see if a UPS career made sense and I’ve decided ...

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Trump reveals tax proposal

Donald Trump the Republican candidate for President made a restrained and knowledgeable interview on 60 Minutes which aired Sunday night. Trump was interviewed by Scott Pelley where Trump shared his ideas on the Presidency, what needs to be done and what as President Trump would work on. Trump dropped a bombshell when he announced his new tax plan would raise ...

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Federal Reserve interest rate decision announced

Audit the Fed - HR 459

The U.S. Federal Reserves’ Open Market Committee (FOMC) has announced the decision to keep interest rates at 0%. The FOMC cited concerns over global economic conditions as the primary reason for not raising rates. The FOMC doesn’t directly affect all interest rates in the American economy. Instead, “the Fed” sets the overnight rate which banks use to charge interest for ...

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Inflation and Bubbles and Tulips: Crash Course Economics #7 [Video]

Inflation and Bubbles video

In which Adriene and Jacob teach you about how and why prices rise. Sometimes prices rise as a result of inflation, which is a pretty normal thing for economies to do. We’ll talk about how across the board prices rise over time, and how economists track inflation. Bubbles are a pretty normal thing for humans to do. One item, like ...

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The Myth of Expansive Workers’ Rights

LaborDayPic

For many, Labor Day is a chance to seize the remaining vestiges of summer- the final trip to the beach, the last picnic before the weather turns too crisp. But for many politicians and labor activists, it’s a chance to harp on the supposed horrors of American capitalism. Because apparently any wage below $15 an hour is exploitation. As are ...

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China can’t help itself – another round of cash injections on tap

China’s central bankers announced Wednesday that they would be injecting another huge amount of cash into the stock market and imposing trading rules to curb recent volatility. In a move intended to cushion the recent market crash, the People’s Bank of China dumped $22 billion (140 billion yuan) into the Chinese stock market this morning and the government will limit ...

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Currency War? Cheap Chinese goods about to get cheaper

Chinese renminbi

The Chinese central bank cut the value of the renminbi (yuan) by 1.9% sending other Asian currencies downward and making Chinese exports even cheaper for foreign consumers. Australia, Singapore and South Korea saw their currencies drop more than one percent as speculators expect those governments to cheapen their currencies to keep the price of exports competitive with China. The People’s Bank of ...

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Treasury Admits Regulation Hurts Business

licensing

For years adherents to the Austrian school of economics have been making the case that regulation bars access to economic opportunity, making it harder for the average producer to access and process from the boons of capitalist interactions. Now validation of that principle is coming from an unlikely place: the federal government. A report recently released by the Office of ...

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Why U.S. companies can’t find skilled workers

800px-Elevator_electrician_(6267811128)

U.S. companies are reporting that they are increasingly struggling to find workers with the proper skills for the labor market, suggesting a serious problem with the American education system. The National Association for Business Economics’ latest business conditions survey showed that more than one third of those polled reported that their companies were unable to find workers with appropriate skills. ...

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Wholesale inventories up, sales and consumer data disappoint

969eobama-sad-frown-16

Wholesale numbers and credit card data don’t look so good “unexpectedly”. Expectations were for a .3% growth in inventories and a .6% increase in sales for the just released May numbers. Instead, inventories grew .8% and sales only saw a .3% rise. Along with weak sales data at the wholesale level, Bank of America card data shows that American consumers shut down ...

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TD Ameritrade experienced ‘widespread’ order-routing problems Friday

TD Ameritrade routing issue

According to a statement by the office of the President of TD Ameritrade, the brokerage started experiencing widespread order-routing problems on Friday morning. Customers reported issues on twitter and TD Ameritrade has responded that they are aware of the problems and are working on them. @GrowthAndPride Hi – we are researching and working to resolve ASAP. ^MH — TD Ameritrade (@TDAmeritrade) ...

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U.S. Jobless claims rise most since February

The top line jobless claims number rose above estimates and to the highest level since February, but that’s not the most disturbing news. Digging into the numbers, it appears that more people are suddenly having to find work (initial claims) and they are finding that it is taking longer than previously to get a job (continuing claims.) Jobless claims jumped to ...

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