by Alexander William Salter
The American Institute for Economic Research
Despite extraordinary monetary tightening by the Federal Reserve, inflation remains elevated above its 2 percent target. Even more worrying, inflation accelerated during the first quarter. The Consumer Price Index (CPI) rose at an annualized rate of 4.5 percent over the last three months. The figures for Personal Consumption Expenditures Price Index (PCEPI) are similar through February, with March data set to release later this month. It looked like we had inflation whipped as recently as December. Now it looks like price stability is slipping away.
Many commentators (including myself) were worried monetary policy had become too restrictive as inflation eased. Others worry the Fed is missing the signs of an inflation resurgence, just as they misdiagnosed inflation beginning in 2021 as “transitory.” Clearly there is room for reasonable disagreement. But there’s still a puzzle here: by conventional measures, money looks tight. It’s not clear what needs to happen next to get disinflation back on track.
What do the state’s insurance and housing crises have in common? Obviously, homeowner policies have an impact on housing costs, but I’m referring to something different, namely the concept of open-ended risk. Insurers are exiting the market because state policies limit their ability to price policies to reflect the risk of a major wildfire season. They rather pull out of California than risk the destruction of their assets.
Moments like the one we live in now come along from time to time, providing the opportunity to learn from the mistakes of the past. For instance, key takeaways from the Deepwater Horizon incident of April 2010 and how they apply to today are clear except to those who deny them.
A study by the government’s communications regulator in the UK has found that a quarter of children aged just 3-4 years old own smart phones.
A pair of British police officers accompanied by a nurse were filmed entering a man’s home and questioning him over a social media post where he suggested Christians “stand up” in the wake of the recent stabbing of Orthodox Bishop Mar Mari Emmanuel.
Your information is everywhere on the internet. It is in your banking, financial, credit card, cell phone, internet, utility, and online purchase accounts and in the accounts of these companies’ service providers. Your information is in more places than you can imagine. The internet system is easy to hack, because it was created as an open system for the military.
It’s barely six months into the US government’s ‘fiscal year’ (which started on October 1, 2023) and the federal budget deficit is already $1.1 trillion.
That real harm will result from the use of AI tools is a given.
International Man: According to a recent study by Investopedia, the classic middle-class American Dream now costs over $3.4 million.
Today, I welcome back David Rodgers Webb, Author of “The Great Taking”. For me, this journey began after an initial reading of David’s book, and a weekend down the rabbit hole, followed by my first interview with David last November. Nearly a thousand hours of research later, and a complete series of deep dives on the topic, I am pleased to talk with David again on recent developments surrounding The Great Taking, and how David sees things developing including some of the recent events with states such as South Dakota and Tennessee taking notice of David’s work. Enjoy the interview and don’t forget to check out our digital webinar – details below.
All that makes sense, but why are there still any cash-out refis when people could take cash out via HELOCs, without losing a 3% mortgage?