Wall Street wants inflation to peak so stocks can return to record highs. The problem is that even if inflation has peaked, a recession now looks inevitable. And recessions are not ideal for the stock market either. Not only that, but it’s not straightforward that the stock market has even…

Whenever we hear something like ‘tax holiday’, it sounds like a good idea. Who likes taxes? However, that is not what is going on with the gas tax holiday. The tax holiday is being proposed as a relief to consumers because of inflation. The reality is that a gas tax…

Dave Ramsey is known for getting people out of debt. He has certainly helped many people, including the people who can't seem to handle debt (or personal finance in general). Ramsey has stated that debt is always bad, but empirically that's false. Many people don't take on too much debt…

It’s not a secret that the price of Bitcoin has been crashing. From its high in November, Bitcoin is down over 70%. The question is: how much lower will Bitcoin go from here? Where will the price bottom out? One common price I’ve heard thrown around, for how low Bitcoin’s…

Weeks ago, Federal Reserve chair Jerome Powell said the Fed wasn’t going to have a 75 basis point (interest rate) hike on the table. So not only were they not going to hike by that much, but the Fed wasn’t even going to consider it. …

A recession is still happening. — Wall Street has come up with a new talking point lately, as it relates to the possibility of an upcoming recession. The talking point says that we aren’t headed for a recession because unemployment is so low. How can we have a recession when unemployment is so low? The job…

In the 1970s, there was a popular theory about why there was such high inflation at the time. The theory was that supply shocks could cause higher prices, particularly supply shocks in oil. Why oil? Well, the theory is that oil is such a big part of the economy that…

Not too long ago, I wrote about how the stock market entered a bear market on an intraday basis. Yesterday, however, the market finally closed in a bear market. Here, what I mean by ‘stock market’ is the S&P 500. The Dow Jones Industrial Average hasn’t yet entered a bear…

Fiat money destroys lives — In his book, “The Fiat Standard,” Saifedean Ammous documents all the problems that fiat money creates. Underlying the problems of fiat money is the notion of time preference. If your money is being inflated away, you care less about the future. Life becomes only about living right now. And living…