A male Federal Deposit Insurance Corp. supervisor in San Francisco invited employees to a strip club. A supervisor in Denver had sex with his employee, told other employees about it and pressed her to drink whiskey during work. Senior bank examiners texted female employees photos of their penises.
Billionaire Ken Griffin, head of the Miami-based hedge-fund manager Citadel, said higher baseline inflation may go on for decades, caused by structural changes that are pushing the world toward de-globalization.
Back in July, when we last looked at the unprecedented horror show that is the US budget deficit - and concluded correctly, long before the Q2 Quarterly Refunding Announcement, that debt issuance was about to explode and yields would soar - we warned that the debt Rubicon was about to be crossed and "US Debt Interest Payments Are About To Hit $1 Trillion."
The threat of hyperinflation has haunted fiat money economies throughout history. Although past empires crumbled under the weight of unrestrained money printing, modern bankers at the Federal Reserve assure us that today’s financial system is immune to such a fate. Austrian business cycle theory, however, reveals that current economic stimulation may be propelling us toward a crisis of catastrophic proportions: a crack-up boom that marks the dramatic end of this boom-and-bust cycle. When a central bank expands the money supply to reinflate bubbles, it destroys the currency’s purchasing power. This endgame, in which the monetary system crumbles beneath a weak economy, represents the ultimate failure of interventionism. Once the public expects prices to keep rising, hyperinflation becomes a self-fulfilling prophecy.
Many baby boomers across the country are now coming to terms with the hard reality that working for your entire adult life is no longer enough to guarantee you’ll have a roof over your head in your later years.
NAPLES, Fla.—Judy Schroeder was living a stable retirement in this affluent Florida enclave. Then her apartment building was sold to a new owner during the pandemic and she lost her part-time job working at a family-owned liquor store.
In order for a civilized society to function, most people have to willingly follow the rules of that society. If that happens, law enforcement authorities can deal with the few that choose to be lawless. For generations, that is how things worked in America.
I believe that I have found my new favorite song. Written and sung by Farmville, Virginia, native Oliver Anthony, the recently released single, “Rich Men North of Richmond” has placed into words what the heart of America is feeling.
Corporate bankruptcies are edging back up after a two-year lull as pressures in the economy grow, a situation sure to worsen if the nation’s political leaders fail to reach a deal to prevent the government from defaulting on its debt.