The Greatest Risk to Americans Is the Federal Government, Not Bank Failures
The Fed ‘is a god that has failed’
Why does Wall Street keep recovering after recessions but the economy seemingly never does? The reason, as I document in my book, “The Scandal of Money: Why Wall Street Recovers but the Economy Never Does” is that Washington and the Federal Reserve together have created a closed loop economy where the Fed creates money for the government and the S&P Read More ›
The Gilder
George Gilder’s brilliant new book — The Scandal of Money — underscores an odd fact. There’s an expanding list of newspapermen and writers who, having reached a certain age and covered the intellectual and political wars, have turned late in their careers and at the peak of their powers to the problem of money. They are riveted by the recognition Read More ›
Normalize U.S. Economy
U.S. stock prices have just reached record highs, erasing the losses since the previous 2007 peak. But the U.S. economy as measured by the labor-force participation rate, which captures the percentage of working-age people in the labor force, has just dropped to a new 34-year low of 63.3 percent. Since the Great Depression, recessions have always been followed by strong Read More ›
Rejuvenating the Economy Q&A
Steve Forbes (President & CEO, Forbes Inc.) answers question about the Federal Reserve, Tax Cuts and the Oil Situation. Read More ›
How to Forecast the Economy
Knowing that I am an economist, friends and acquaintances frequently ask me, “What is going to happen with the economy?” If I say with great assurance, “Inflation will rise 0.3 percent, unemployment will fall 0.6 percent, and economic growth will increase by 3.2 percent,” they will walk away happy, believing they know something others do not. Or, I can be Read More ›
Defeating Deflation
Deflation is upon us. Put another way, the U.S. economy is now experiencing a sustained reduction in the general level of prices. Last month, the Producer Price Index posted its biggest decline on record, 1.6%, and the Consumer Price Index fell by 0.3%. All of the major commodity price indices are down by 11% to 20% for the year. Many Read More ›