(Joe Hoft) The Democrats are planning to pass $5.4 trillion in new spending this week and yet the debt ceiling is busted and inflation is sky-high.
Economy
Inflation and the Reanimation of Dead Ideas
(Jon N. Hall) The cover of the July-August edition of The New Republic features an interesting image of a well-known man whom one might not recognize unless one reads the blurb: “The Second Death of Milton Friedman.” On the opposite side of the cover, we read: “The economist died in 2006. And now, his pernicious and reactionary ideas are finally dead, too.”
Venezuela’s Central Bank Will Launch Digital Currency Oct. 1 to “Stabilize the Economy”
(J.G. Martinez) I have been home for over two months now, and I have only acquired four banknotes of 500,000 Bolivares each. Finding cash is a pain. I went to see if the bank could unlock my old account. Unfortunately, there is no way, and I will have to open a new one. And wait for God knows how much time for something as simple as an ATM card. The wait can be months in this small town.
Crypto: The Bitcoin Lightning Strike
(CryptoCorner) Lightning: Bitcoin’s Second Layer. When Bitcoin arrived in January of 2009, one of the first criticisms was that it was too slow. It takes about an hour for a transaction to finalize on the network.* It was also criticized because the block size limited the number of Bitcoin transactions meaning that Bitcoin couldn’t compete with Visa and MasterCard.** This all changed with the adoption of the Bitcoin Lightning Network. The base layer—the Bitcoin blockchain—is great for final settlement of large transactions; however, with an hour wait time for a transaction, it’s terrible for buying a cup of coffee.
INFRASTRUCTURE BILL: Biden Claims He WON’T Be Going After Cryptocurrencies
(Vince) This infrastructure bill is full of pork…. So full of pork that even things like cryptocurrency regulation have found their way into the bill, and most crypto investors/enthusiasts were worried that these regulations would have devastating effects on cryptocurrencies as a whole.
Harvard Economist Breaks the Bad News: Bigger Paychecks Under Biden Made Useless by Spiraling Inflation
(Jack Davis) In Joe Biden’s America, earning more means buying less.
Crypto: Why Cryptocurrency? Why Bitcoin?
(CryptoCorner) Some of them are scams. A few have stood the test of time. A couple have demonstrated novel innovation. And all of them are complicated. Let’s simplify all of that and look at how you might use one of them in your daily life.
SEC’s Gensler Says Increased Regulation Will Drive More Crypto Adoption Ahead Of Key Speech
(Tyler Durden) Gensler is speaking live, readers can watch below. The headlines culled from his prepared remarks are already rolling in…
Donald Trump Wins $1Million Tax Refund On His Chicago Skyscraper For Overpayment – Raging Leftist Kim Foxx Wants To Block It
(B.K. House) Donald Trump is due a $1 million tax refund on his Chicago skyscraper and radical leftist prosecutor Kim Foxx is aiming to block it.
Study: Democrats’ Capital Gains Tax Hike Could Cost More than 745,000 Jobs
(Bethany Blankley) Regional Economic Models Inc. projects enactment of STEP Act would result in GDP loss of $824 billion and private investment decline of $612 billion over a 10-year period.
Nearly 2 Million Households Owe $15 Billion in Back Rent as Eviction Moratorium Expires
(The Center Square Staff) As many as 1.95 million households across America owed a collective $15 billion in back rent when a nationwide eviction moratorium expired this weekend, according to Federal Reserve Bank of Philadelphia estimates.
Down to 50: Biden Approval Rating Hits Lowest Point Since Taking Office
(The Center Square Staff) As President Joe Biden faces concerns over the economy and the crisis at the southern border, his polling numbers have dipped to the lowest point since he took office.
Andrew Cuomo Begs Businesses To Return To New York City–After Destroying It With Lockdowns
(ProTrumpNews Staff) Tyrannical lockdowns have destroyed New York.
Biden’s America: American Wages Drop by Nearly 2% as Inflation Spirals Out of Control
(Mike Landry, The Western Journal) What a life. People sit at home, collect unemployment, relish their stimulus checks. It’s grand. But they have to know it can’t last.
John Kerry: Even if Every Country Abides by Paris Agreement, Temperatures Will ‘Still Rise’
(Kyle Becker) The Biden administration seeks to impose economy debilitating impediments on the United States under the rubric of “green energy” policies.