Why does a democratic republic founded in opposition to monarchy tolerate billionaires?

In Thursday’s post, I imagined a world in which conservatives placed equality at the center of their sensibilities. It was fun, though hardly realistic. As one reader said, conservatives never do that. If they did, they’d be liberals. But the goal of the exercise was less practical than imaginative. At the root of the many problems we face are thorny questions difficult to answer. But there’s also a failure of imagination.
I don’t mean to say we need “attitude adjustments.

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The recent rise in inflation, explained in 600 words

This is an excerpt from The Weeds newsletter. To subscribe for a weekly dive into policy and its effects on people, click here.
If you’ve been watching the news lately, you probably have a good sense that inflation is going up — that, in other words, things are getting a bit more expensive.
Only it’s a little more nuanced than that.
It’s true that the Consumer Price Index (CPI) rose 5.4 percent in the 12 months ending in September.

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The recent rise in inflation, explained in 600 words

This is an excerpt from The Weeds newsletter. To subscribe for a weekly dive into policy and its effects on people, click here.
If you’ve been watching the news lately, you probably have a good sense that inflation is going up — that, in other words, things are getting a bit more expensive.
Only it’s a little more nuanced than that.
It’s true that the Consumer Price Index (CPI) rose 5.4 percent in the 12 months ending in September.

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Billionaire Hedge Fund Manager: Inflation is the ‘Single Biggest Threat’ to Society

Paul Tudor Jones, a hedge fund manager who founded Tudor Investment Corporation, said Wednesday that inflation poses a major threat to the United States. 
“It’s probably the single biggest threat,” he said on CNBC’s Squawk Box, “to certainly financial markets and I think to society just in general.”
Jones added that he does not believe inflation is transitory, which the Federal Reserve previously claimed.
Inflation reached a 30-year high in September. The Consumer Price Index was 5.4 percent higher in September from a year earlier.

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Op-Ed: The economic recovery can benefit all Americans. Here’s how

The expiration of enhanced unemployment benefits in the United States has come and gone with no noticeable impact on the number of Americans seeking work. This should come as no surprise. Arguments made by uninformed and self-interested low-wage employers who blamed the pandemic-era safety net for their inability to fill open positions never held water. Research from the Federal Reserve Bank of San Francisco has shown that early suspension of benefits in some states had no noticeable impact on their unemployment rates.

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Why Governments Hate Cryptocurrency

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Recently the Chinese government declared cryptocurrency illegal. In Washington, policymakers have questioned its legality and legitimacy.  Sen. Elizabeth Warren went so far as to call cryptocurrencies “a fourth-rate alternative to real currency.” As of this writing, the president is purportedly working on an executive order to crack down on crypto.
But why? To answer, it’s best to begin with a question. How many dollars do you have? Before you go digging through your pockets, let me save you the trouble. 
The answer is zero.  You have no dollars.

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Why Governments Hate Cryptocurrency

X

Story Stream

recent articles

Recently the Chinese government declared cryptocurrency illegal. In Washington, policymakers have questioned its legality and legitimacy.  Sen. Elizabeth Warren went so far as to call cryptocurrencies “a fourth-rate alternative to real currency.” As of this writing, the president is purportedly working on an executive order to crack down on crypto.
But why? To answer, it’s best to begin with a question. How many dollars do you have? Before you go digging through your pockets, let me save you the trouble. 
The answer is zero.  You have no dollars.

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Up, Up, and Away

I recently came across an article in Bloomberg News that made me laugh out loud. It’s called “America Needs Higher, Longer Lasting Inflation” It’s written by some guy named Karl W. Smith, and it’s actually being reprinted in a bunch of places. It’s part of an elaborate media effort now trying to cover up or justify the failures of the Biden administration.

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Propounding weird language is worsening today’s social fraying

People expect no better from government officials, who are puzzled by voters’ reluctance to trust them with multiple-trillion-dollar tranches of their decreasingly valuable money. Speaking of inflation:

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Travelers increasingly find cards in their hotel rooms saying, or implying, approximately this: “This facility is so distraught about our imperiled planet that your sheets will not be changed daily unless you selfishly insist.” Perhaps altruism actually motivates this money-saving policy.

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Preserve the Fed’s Independence above All Else

Federal Reserve Chairman Jerome Powell attends the House Financial Services Committee hearing on Capitol Hill in Washington, D.C., September 30, 2021. (Al Drago/Pool via Reuters)
The last thing this country needs is a politicized Federal Reserve. The free world is watching — and so are its enemies.
With higher-than-normal inflation and an administration dead-set on massive spending measures, the independence of the Federal Reserve is of vital importance.

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