Senior Managing Editor of The Freeport Society
Another week, another sad case of willful ignorance.
Despite the economic headwinds of plunging home sales, rising inflation, and an overall unstable economy, the market appears to be partying like it’s 1999.
Meanwhile, the constant barrage of bizarre news stories and the all-consuming presidential election circus serve as perfect distractions from real issues.
You know, the ones actually impacting our lives and the country’s fiscal trajectory…
Like Joe Biden’s runaway spending and the government’s skyrocketing national debt, a labyrinthine tax code that only penalizes productivity and freedom of wealth creation, and ridiculous regulatory overreach that puts businesses in a headlock.
And if you are looking for comfort in this chaos, expert economists are just as confused as we are. They can’t tell where interest-rate levels are headed. And while Fed policymakers have increased their median forecast, economists aren’t denying a loftier projection.
But the media’s obsession with sensationalism and their cherry-picking of which narratives to amplify allows for real issues, with real consequences, to fall by the wayside.
If anything, we should be suffering from whiplash by the contradiction of competing headlines.
We aren’t sitting, waiting for the Age of Chaos. It’s here. Even if Wall Street would rather ignore it.
And here at The Freeport Society, we want to help safeguard your wealth against it, while giving you the tools to grow your wealth despite the chaos.
Now, here’s a refresher on what happened this week…
The Insidious Demise of Your Standard of Living
With our current political system, we constantly find ourselves caught in a tight grip financially. As stocks rise, inflation follows, and we’ll be drained. Click here to read the details.
Inflation’s Real Drivers: Redistribution and Boneheadedness
We’re watching our tax dollars be used to forgive a debt that isn’t ours, and it’s this kind of inefficient government spending encouraging what we know as stagflation. Read Charles’s analysis here.
The Free Market Will Slay Inflation Long Before the Fed Does
What’s not to love about capitalism? In Friday’s article, Charles appreciates how business has a better shot at combating inflation than the Fed does.
Looking Ahead
We’re looking forward to the long weekend, but first, I want to begin by thanking all the brave men and women who have served in our nation’s armed forces. Memorial Day is a reminder of the selfless sacrifices made to protect our freedoms, ones we value deeply here at the Freeport Society. Once again, thank you.
Beyond Memorial Day… next week’s hot topic will be the revised Q1 GDP results due out on Thursday. Are we going to see signs that the economy is cooling – that Charles is right about stagflation looming in front of us? We’ll find out soon enough.
We also have a slew of public appearances by Federal Reserve voting members, with at least four scheduled appearances next week.
But perhaps most telling of all, we’ll have the latest release of the Fed’s preferred inflation metrics, the PCE and Core PCE. Any indication that inflation is heading lower might renew hope of rate cuts sooner rather than later. But if the steady drumbeat of cautious language coming out of the Fed is any indication, I wouldn’t bet on it.
To life, liberty, and the pursuit of wealth.