"Long-term interest rates are increasing while shorter-term rates decline." Dear Mr. Realist: As I predicted, the Federal Reserve and Fed Chair Kevin Warsh are following the script I described in my most recent letter. As a consequence, inflation and Federal debt and deficits are destined to increase...
“What does ‘the death-of-deflation’ mean for America?” – The Lonely Realist TLR yesterday received the following letter from Cassandra, the mythical Trojan princess gifted by the Greek God Apollo with the ability to prophesize and burdened with the curse that her prophesies would not be believed....
“The one thing that all Americans can agree on is that the midterm elections will be ‘fixed.’” Maureen Dowd recently penned a critical piece in the New York Times about President Trump‘s July 16th televised speech in which he (again) repeated his claim that the 2020...
“The future of education will not be about the 3 Rs.” – The Lonely Realist As TLR previously highlighted, America’s K-12 public education system has been failing, undermined by a combination of budget cuts, misaligned tax incentives, social media addiction, partisan “truthiness,” burgeoning charter-, private- and...
“Change has come to America’s democracy.” – The Lonely Realist Arthur Schlesinger’s 1973 book, The Imperial Presidency, concluded that the Constitution provides no real limits on Presidential power. He was right. A 6-3 Supreme Court majority on June 29th in Trump v. Slaughter endorsed the “unitary...
“Modern economies have a love affair with inflation.” – The Lonely Realist For some, inflation is a bad thing. For others, it’s a good thing. Whatever its impact, inflation is a modern fact of life and its future today seems … bright. Inflation generally is viewed as...