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Economics

Inflationary Pressures Began After 2015 – Tariffs are a Distraction

The Federal Reserve’s Survey of Consumer Expectations foresees inflation returning to “pre-tariff” levels. As I have mentioned, the rising costs were a mere...

PRIVATE BLOG – Trump’s Big Beautiful Bill

PRIVATE BLOG – Trump’s Big Beautiful Bill Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more,...

Dollar – Debt- War & Crypto

Bloomberg and the other Fake News outlets that hate Trump and want more EQUALITY, following the very same philosophies as Stalin imposed in Russia. All we hear is...

Powell Blames Trump Tariffs for Coming Inflation

I repeatedly warned that the headlines would blame Trump tariffs for the incoming inflationary wave. Jerome Powell stated that “uncertainty is unusually...

May CPI – Vance Angered by Powell

The consumer price index rose by 0.1% in May, bringing the annual rate of inflation to 2.4%. Excluding food and energy, the core CPI came in respectively at 0.1%...

Second US Commerce Dept Report – GDP Stagnant

The US economy contracted by 0.2% from January through March of 2025. This is the second Q1 estimate provided by the US Commerce Department, with a third on the way...

LA Hotel and Airline Employees – Min. Wage $38 Per Hour

California routinely selects groups of minimum wage workers and decides that their skill set is now worth tenfold. The state in general increased the minimum wage...

The Theory of UNCERTAINTY

QUESTION: What is your view of Frank Knight’s view of risk versus uncertainty? HL ANSWER: Frank Knight was an influential economist and founder of the Chicago...

Bessent Disagrees on US Credit Downgrade

US Treasury Secretary Scott Bessent rebuked Moody’s lowered rating of US credit from AAA to AA1. “First of all, I think that Moody’s is a lagging...

Moody’s US Downgrade AAA to AA1

Moody’s Investor Service downgraded the United States’ credit rating from a top-tier rating of AAA to AA1 due to rising government debt. Fitch Ratings lowered...