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IT was bound to happen. Overplaying the COVID card has caused mountains of reckless government borrowing. With each passing day, the resulting debt-aftermath is approaching, and it looks daunting. It is clear to prevent a complete collapse of the credit currency that interest rates will need to go up to begin to remove from circulation all those inflation-causing credit instruments responsible for skyrocketing real estate and stock market valuations. In doing so, the Reserve Bank protects itself from collapse while transferring any resulting consequences to the people.
Honestly, it is not difficult to see that natural law is the gold standard of civilization. It fosters pricing stability and rationality, but it seems absent in today's artificial
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Millions of Texans, including scores of families that have moved here recently, got a reminder of Mother Nature's fury, compliments of Winter Storm Uri (photo courtesy of NASA). As it turns out, our solar system's Sun is now in what is known as a Solar Minimum. This might, according to astronomer Bob Berman, suggest we may be seeing more of these powerful winter storms in the coming years, due to lower sunspot activity. The good news is that Texas' electric grid problems are all fixable, but it will cost money and require tens of thousands of new jobs to get this big Texas fail-safe job done. Texas is a can-do state, and the initiative is couched in urgency as stated by Gov. Greg Abbott.