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Robert Hughes

Real Disposable Income and Real Consumer Spending Fell in May

“Personal income rose in May, but real disposable income and real consumer spending fell. The outlook for the economy remains highly uncertain.” ~ Robert Hughes

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Robert Hughes

Average Weekly Initial Claims Rose for a Fourth Consecutive Week

“Weekly initial claims fell, but the four-week average continues on a modest upward trend. Sustained elevated price increases and an intensifying Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes

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Raymond C. Niles

The Perpetual Tragedy of New York’s Rent Control

“If the city keeps reducing real rents by capping increases below the inflation rate (as it is doing now), and if inflation continues for more than a few years, we will see building abandonments once again.” ~ Raymond C. Niles

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Joshua Hendrickson

Inflation and Time

“The monetary regime that we have had since Richard Nixon closed the gold window is one of persistent price inflation. A comparison of money prices today and money prices in 1971 are essentially meaningless.” ~ Joshua R. Hendrickson

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Garion Frankel

You Should Care About Martin Van Buren

“Martin Van Buren may not be everyone’s favorite President, but he is worth studying. After all, an estimated 28 percent of Americans identify with the Democratic Party. People should at least know how their political party came to be and why it endured.” ~ Garion Frankel

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