As the coronavirus-induced economic lockdowns have tightened across the US, we’ve seen the emergence of a government-inspired fantasy — the myth of the nonessential business. Government officials across the country have forced the closure of these so-called non-essential businesses while allowing “essential” enterprises to soldier on. Politicians and bureaucrats have developed arbitrary […]
It is 9 a.m. on a Saturday morning at Hurley’s supermarket in Grand Cayman and there is no hint of “business as usual.” Members of the Royal Cayman Islands Police Service are manning the supermarket entrance, while security guards spray shoppers’ hands with antibacterial fluid. Winding dividers direct hundreds of […]
WASHINGTON — The Trump administration on Tuesday weakened one of the nation’s most aggressive efforts to combat climate change, releasing new fuel efficiency standards for cars and trucks that handed a victory to the oil and gas industry. The new rule, from the Environmental Protection Agency and Transportation Department, will almost immediately […]
September 17, 2019 was a significant day in American economic history. On that day, the New York Federal Reserve began emergency cash infusions into the repurchasing (repo) market. This is the market banks use to make short-term loans to each other. The New York Fed acted after interest rates in […]
If you think gold GC00+0.69% has jumped about 10% in a couple of days to $1,638 an ounce, the official price quoted on Wall Street, think again. The real price? Nearer $1,800. If you can get it. “There’s no gold,” says Josh Strauss, partner at money manager Pekin Hardy Strauss […]
To date, the GLOBAL death toll from COVID-19 stands at around 17,000, with experts still unsure how many of those victims would have succumb to their ‘underlying health conditions’ anyway, even if they weren’t infected with the respiratory disease. That number of 17,000 is of course going to rise, but […]
The economic debate of the day centers on whether the cure of an economic shutdown is worse than the disease of the virus. Similarly, we need to ask if the cure of the Federal Reserve getting so deeply into corporate bonds, asset-backed securities, commercial paper, and exchange-traded funds is worse […]
According to Owen Ullmann in an op-ed published by USA Today, there are some unsung “heroes” in the battle against the coronavirus pandemic — the brave and courageous bankers at the Federal Reserve. I think Ulmann misspelled “villains.” Ulmann writes that the Fed “has taken extraordinary steps to prevent the global economy […]
In 2013, the Guardian ran with the story that the Arctic would be “ice-free by 2015” due to a catastrophic methane-induced warming “pulse” and a lack of snowfall and ice. Ten years ago, the same rag claimed that Greenland was going to “collapse” within 10 years. And yet, according to […]
In the face of the recent pandemic, one of the most affected countries has been China, therefore, different nations have tried to support that country by sending masks and protective equipment, and Canada was no exception. It should be noted that today, people are informed that their actions have led […]