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In the wake of President Biden getting his wish for $80 billion in IRS funding, with a meaningful amount reportedly earmarked for additional auditors, the calls to abolish the IRS have ramped up. This has led some in the GOP to consider several new, “non-IRS” ways to collect money from us for Congre... → Read More
As 2023 opens, experts aren’t particularly optimistic. According to Bloomberg, “Forecasters surveyed by the Federal Reserve Bank of Philadelphia put the probability of a downturn in the next four quarters at more than 40%, the highest reading since at least 1975. Economists polled by Bloomberg see t... → Read More
Small businesses are undoubtedly the backbone of the economy and represent everything that we cherish about the United States, like competition, economic freedom, independence, and decentralization. They are the embodiment of the “American Dream."But there has been a war on small business (as I wrot... → Read More
When James Carville was a strategist with Bill Clinton’s campaign against incumbent President George H.W. Bush, he had a clear messaging focus: “the economy, stupid.” That shouldn’t be a surprise. While the political elite like to bicker and distract with a bunch of nonsense, when the financial foun... → Read More
In late September, President Biden tweeted, “Capitalism without competition isn’t capitalism. It's exploitation.” I agree, which is why it’s so frustrating that President Biden and his cronies keep trying to tip the scale and make it harder for the “little guys” to compete.The latest affront comes p... → Read More
It was the worst of times, it was … the worst of times. Some days it really feels that way. Inflation is eating away at your purchasing power. It costs a small fortune to fill up your gas tank. And don’t even look at your 401k or stock portfolio. With so many things all going wrong at once, what... → Read More
On the back of the August CPI report, the hotter-than-expected headline inflation and core inflation (without food and gas) numbers are being perceived as bad news for Federal Reserve policymakers. While investor expectations for next week’s meeting were that the Fed would hike the target interest r... → Read More
California Governor Gavin Newsom has signed a bill called the “FAST Recovery Act” creating a state-level appointed council to effectively control the fast food industry. A royal burger and fries council, if you will. The stated goals of the council include pushing up wages and controlling other stan... → Read More
Air conditioning is one of the most American things I can think of, other than perhaps ice cubes, which accomplish a related function. While people throughout Europe and other developed and emerging countries sweat and suffer through sweltering hot — and sometimes mildly hot — days and drink warm wa... → Read More
With the imminent passage of the Orwellian-named “Inflation Reduction Act” (a la “war is peace”), many people are focused on the $80 billion allocated to ballooning the size of the IRS. And rightly so — the estimate, put out by the administration last year, of 87,000 new IRS employees to be hired wi... → Read More
At every turn, the government is coming after more and more of your wealth. → Read More
Well, the long-awaited second-quarter GDP numbers are out, and based on the reading, the economy contracted by 0.9% on a year-over-year basis, adjusted for inflation. Based on the widely accepted definition of a recession being two consecutive negative quarters of GDP, assuming these numbers remain negative, we are unofficially in a recession — or, → Read More
We are having a climate emergency. I am sure it’s true because important people have said so. These are the same people who have been wrong about everything of late: solving crime, COVID, printing money, and energy transitions, to name a few. They have pushed a half-century’s worth of climate predictions — all of which I have managed to live throug → Read More
Because he has done so little, or, more accurately, so little that has gone right, Joe Biden is still spending time talking about the American Rescue Plan. This legislation from March 2021 keeps making it into Biden’s speeches and his Twitter account more than a year and a quarter after its passage.No, he hasn’t been talking about how the ARP’s $1. → Read More
With the Federal Reserve trying to cool the economy in an effort to stop the inflation that the Fed helped create in the first place, a wide variety of investors, business leaders, and analysts are upping their predictions of a recession.The old-school investor definition of recession is two consecu... → Read More
Crypto markets, including the most prestigious 'coins,' are getting hammered. What does this say about the future of cryptocurrency? → Read More
U.S. gas prices hit an average of $5 per gallon for the first time last week, according to AAA. Americans are having to spend more of their hard-earned money on energy. But who is really to blame?It is probably helpful to start with a breakdown of the components of the price of gas.The cost of crude... → Read More
You have likely heard the saying that generally says hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times. Well, the same goes for corporations. Times are getting tough, and that means it is time for you to get back to business.On the back of a macroeconomic environment that heavily → Read More
Politicians like to pretend they are “for the little guy.” Democrats, especially progressive Democrats, doubly so. Which is why it should come as no surprise that Senator Elizabeth Warren is once again trying to find a way to blame companies for inflation. This time it comes in the form of a bill asking companies to explain why they are increasing → Read More
From my appearances with Glenn Beck on his radio program, I receive many financial questions from listeners. I answer some on air, but as I cannot get to all of them, I thought I would use this opportunity to answer a few that might be helpful to you as well.Note that questions may have been edited slightly for clarity.**Important Disclaimer: This → Read More