The Rothbard-Salerno supply measure shows money supply grew at its fastest rate in 23 months in August 2023, signaling potential recession within 18-24 months.
Over the past 5 years, the money supply has grown by $4.6 trillion, representing a 24% increase of the total $19 trillion supply.
The Federal Reserve cut the target federal funds rate in September 2023 from its 5.5% peak, fearing job losses without continuous money infusion.
During the COVID panic, the money supply grew $3 trillion more than usual, unlikely to return to pre-trend growth rates.
The Fed’s aversion to deflation leads to repeated interventions, including interest rate cuts and money printing, as loan defaults cause fiat money to disappear and prices to fall.
Despite $1.2 trillion allocated in the 2022 bipartisan infrastructure law, American infrastructure remains in disrepair with 42,000 bridges needing fixes and 300 million Americans at risk near train lines.
States with the worst roads (Hawaii, Rhode Island, Connecticut) paradoxically spend the most per capita on infrastructure, while those with the best roads (Alabama, Indiana, Idaho) spend the least.
Infrastructure funds are often diverted to unions, green projects, and subsidizing losing ventures like New York’s Subway, rather than addressing critical needs like bridge and dam repairs.
The law allocated $42 billion for rural internet, yet 3 years later, it hasn’t connected a single person, partly due to excluding Elon Musk’s solutions out of spite.
As government budgets expand, funding tends to concentrate on activist causes and new departments, neglecting essential services like road maintenance and pothole repairs.
The breakdown of the black family is primarily attributed to policies initiated in the 1960s, not slavery or historical factors, as evidenced by a classic study showing most black children lived with two parents until the 1960s.
Welfare and affirmative action policies have contributed to a cycle of poverty and disadvantage in the black community by fostering a culture of dependency and external blame, according to Thomas Sowell.
Implementing a colorblind policy and eliminating welfare and affirmative action could help address poverty cycles, but black leaders lack political incentives to pursue these changes, Sowell argues.
The race industry perpetuates hopelessness in the black community by creating a sense of powerlessness and lack of control over one’s life, as per Sowell’s analysis.
The 1960s policies have had a more significant impact on black family structure than historical factors like slavery, challenging common narratives about the root causes of current social issues.
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