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Many people believe that a general increase in stock prices is an important factor in economic growth. However, this is a questionable observation. The view that the stock market drives economic growth originates from the observation that changes in stock prices precede changes in economic data. We suggest that various economic indicators are heavily influenced by money supply, which also drives stock prices. The price of something is the amount of...

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Many economists believe that inflationary expectations cause general increases in prices. For instance, if there is a sharp increase in oil prices, people will form higher inflationary expectations that set in motion general increases in the prices of other goods and services. According to the former Federal Reserve chairman Ben Bernanke, “Undoubtedly, the state of inflation expectations greatly influences actual inflation and thus the central...

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From the onset of the current Israeli-Hamas conflict, the statements from the Joe Biden administration and Congress were crystal clear: America is the indispensable nation, and we’re rich and powerful enough to be able to afford two wars to guarantee the safety of the world. Even with the displeasure over an unstoppable growth in debt and a declining economy, the message to both the domestic and international audiences is DC will get involved...

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The leviathan does not rest in pursuing free universities, creeping ahead unchecked by either reason, law, or accounting principles. Why is student assessment of their federal-debt-financed degrees so low? Why are 26 percent of past payments delinquent? More than 50 percent of students agree that they either studied the wrong major or wasted time and money. Less than half have found work in their major field of study. Public dialogue is lured into...

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With the release of Ridley Scott's new film Napoleon, viewers encounter a cinematic version of Napoleon caught up in a tumultuous romance against the backdrop of the upheavals of the Napoleonic wars.  This has revived interest in the French military commander and left many wondering what they are to make of the real, historical Napoleon. For many Americans in the audience—who, unlike Europeans, devote virtually no time to Napoleon in school—this...

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Last week, Senator Joe Manchin (D-WV) announced he would not seek reelection in 2024. In a Wall Street Journal op-ed, Manchin explained his reasons for leaving. He starts with a relatively noncontroversial assessment of the problems facing America—rising costs, dangerous drugs crossing the border, a large national debt, unsafe communities, and foreign wars that threaten to pull the United States in. After some platitudes about these not being...

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The United States regime has picked sides in the Israel-Hamas war and has committed to funding Israel's ongoing bombing of non-combatant men, women, and children in the Gaza strip. Northern Gaza's infrastructure is now all but destroyed, with millions of Gazans displaced and homeless. Nearly ten times more Gazans than Israelis have now died in the conflict. Many Gazans have fled to the southern portion of Gaza, but homelessness and abject poverty...

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By popular thinking, whenever the central bank raises the growth rate of the money supply through the buying of financial assets such as Treasuries this pushes the prices of Treasuries higher and their yields lower. This is labeled as the monetary liquidity effect. This effect is inversely correlated with interest rates. Furthermore, an increase in the money supply after a time lag strengthens economic activity and this pushes interest rates...

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