Stealing from Millennials and Future Generations
Excerpts from Confessions of an Old Man

“There’s nothing like doing things with other people’s money.” President Donald Trump
Every US president since Reagan has added hundreds of billions to the national debt compared to his predecessor. President Trump may top all the previous presidents by having an estimated annual deficit of $1 trillion by 2020 or even sooner. Congress and the White House have been living on the backs of the younger generation since 1980 by continuing to spend more than...
Published on August 28, 2019 13:13
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Fed Chair Powell Asked for Inflation and Now He Owns It
In March 2020, Federal Reserve Chairman Jerome Powell (Fed Chair Powell) was concerned that Inflation was not hitting the target of 2%, but falling further. Well, his wish finally came true. Inflation
In March 2020, Federal Reserve Chairman Jerome Powell (Fed Chair Powell) was concerned that Inflation was not hitting the target of 2%, but falling further. Well, his wish finally came true. Inflation in April 2022 was at 8.3% (Fig.1), the highest in the last 40 years and well above the Fed’s target. However, the Federal Reserve with J. Powell as its chairman, continued to print money and kept interest rates (Fed Funds) to almost zero. The Federal Reserve (Fed) serves as the central bank of the United States and is an independent government agency.
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