Friday, July 1, 2022
Those campaigning for a substantial jump in the minimum wage all assert that the purpose is to help working families. Unfortunately, careful students of the evidence come to a different conclusion. As Mark Wilson summarized it, "evidence from a large number of academic studies suggests that minimum wage increases...
DEATH CROSS
Michael Snyder Things continue to line up in textbook fashion for a major financial crisis by the end of 2015.  This week, Wall Street has been buzzing about the first “death cross” that we have seen for the Dow since 2011.  When the 50-day moving average moves below the 200-day...
QE3
Michael Snyder | Economics Collapse Blog What has been happening on Wall Street the past few days has been nothing short of stunning.  On Thursday, the Dow Jones Industrial Average plummeted 358 points.  It was the largest single day decline in a year and a half, and investors are starting...
shos1
Most commentators are of the view that the massive monetary pumping of the Fed during 2008 prevented a major economic disaster. The yearly rate of growth of the Fed’s balance sheet jumped from 3.9 percent in January 2008 to 150.9 percent by December of that year. The federal funds...
Michael Snyder | Economics Collapse Blog Italian voters have embraced the global trend of rejecting the established world order, but the “no” vote on Sunday has plunged global financial markets into a state of utter chaos.  The euro has already fallen to a 20 month low, Italian government bonds are...
Michael Snyder Are we about to witness the most important global financial event since the collapse of Lehman Brothers in 2008?  Glencore has been known as the largest commodities trading company on the entire planet, and at one time it was ranked as the 10th biggest company in the world. ...
Shrinking dollar
A book review in the Wall Street Journal by associate professor of economics at San Jose State University Jeffrey Hummel entitled "The New Central Planning" tends to confirm the perspective that the Federal Reserve is under continued attack. The upshot may be a new monetary system, one way or another. The new system,...
Economic Calculation in the Socialist Commonwealth
An Essay on natural rights on in individual and the coercive power of the state to extract one's money and property. The purpose of this brief essay is to present an argument that state spending on welfare, which necessarily rests on the state’s power to extract funds from the...
dodd-frank
As the weather finally turns to spring, the D.C. Circuit Court of Appeals today blew a nice cool breeze of common sense. A bipartisan three-judge panel unanimously overturned district Judge Richard Leon’s July 31 ruling that the Federal Reserve had not made the price controls stemming from Dodd-Frank’s Durbin...