Economics Archives | 2ndLook News

28 Dec

What’s Happened to the US Economy?

Stacia Wilson0 CommentsArticles, EconomicsBRICS, Consumer Price Index, COVID-19, CPI, debt, economics, economy, fed, fiat, fiat currency, fiat money, gold standard, inflation, Inflation Reduction Act, interest rates, just-in-time supply chain model, M1, Milton Friedman, MMT, oil and gas, petroleum, price gouging, recession, supply chain, USD, Wall Street, windfall profits

With inflation reaching the highest rate in 40 years and a recession looming, what happened to the US economy to create this situation, and what can we expect of the future? There are many theories about the causes of inflation. A very basic formula put forth by famed economist Milton Friedman posits that “Inflation is caused by too much money chasing after too few goods.” This article will use Friedman’s formula as a basic framework for looking at the current causes of inflation and then attempt to integrate economic perspectives from various schools of thought, including Modern Monetary Theory (MMT).…

30 Nov

The Greedflation Hypothesis—are corporations price gouging struggling Americans?

Stacia Wilson0 CommentsArticles, Economicscorporate, corporations, economics, economy, EPI, fed, federal reserve, inflation, Katie Porter, price gouging, profits, windfall profits

This year inflation in the US reached the highest rate in 40 years. Are corporations using the cover of inflation to increase prices and make windfall profits on the backs of struggling Americans? Why does whether this hypothesis is true or not matter so much in the current political landscape? https://twitter.com/ZhiZhuWeb/status/1582490041326059522?s=20&t=hT-qqvBlcmdyu9XOcMZ2cQ What is Inflation and Greedflation? Inflation is a measure of how much the price of goods and services has increased over a period of time. Consequently, it means each dollar is able to buy less, and thus is worth less. A simple maxim by economist Milton Friedman states that…

02 Aug

Canada’s Freedom Convoy and the Emergencies Act: A Postmortem

Judith Sears1 CommentArticles, Economics, Government, International NewsCanada, civic order, COVID-19, Emergencies Act, Freedom Convoy, Jim Watson, Justin Trudeau, liberty, mandates, Ontario, protest, Tamara Lich, Trucker Convoy

For three weeks in January and February 2022, a convoy of truckers dubbing themselves the Freedom Convoy shut down parts of downtown Ottawa and some border crossings between Canada and the US. It began as a protest of vaccine mandates and eventually expanded to become a protest of government overreach of all kinds related to COVID-19. The protests significantly interrupted commerce. The Trudeau Administration cited this disruption as justification for declaring a national emergency under the Emergencies Act. With these enhanced powers, the government froze $7.8 million CAD in 201 bank accounts for a little over a week. The flexing…

01 Mar

Ukraine / Russia Invasion and War – Expert Round Table

Stacia Wilson0 CommentsEconomics, Featured, International News, VideosCrimea, culture, experts, gas, history, invasion, peace, Russia, war

This 2ndLook News expert round table was filmed on March 1, 2022, covering the ongoing crisis in Ukraine. You can watch it on YouTube here.We sat down with a panel of experts to discuss the history of the region, what's currently occurring, and speculation about what may be coming next. This is for those who want to understand what's going on in Ukraine with the Russian invasion and ongoing war, outside of the narratives and propaganda. This is an authentic discussion where each expert is speaking from their own experiences, knowledge, and opinions (and may disagree with each other). It is up to…

06 Feb

Made to Break: Planned Obsolescence and the Right to Repair

Nick Ramos3 CommentsArticles, Economics, SustainabilityApple, centennial lightbulb, circular economic model, e-waste, Fair Repair Act, Ford, General Motors, Giles Slade, Hewlett-Packard, IKEA, iPhone, mining, Model T, Phoebus cartel, Planned Obsolescence, Right to Repair, style obsolescence, technological obsolescence, waste

This article covers: How planned obsolescence was implemented over a century ago and its effects on our behavior and way of thinking about the products we buy everyday. The positive and negative sides of planned obsolescence as well as recent scandals. Why Right to Repair laws are so important. How planned obsolescence is creating excess waste and using up our resources, as well as proposed solutions such as the circular economic model. Exciting new legislation that was introduced to the House in 2021 called the Fair Repair Act. In 2013, a carbon filament light bulb in Livermore, California went out…

23 Jun

El Salvador Becomes the First Nation to Make Bitcoin Legal Tender – Here’s Why it Matters

Zachary Josephs0 CommentsArticles, Cryptocurrency, EconomicsBitcoin, Bitcoin Law, blockchain, crypto, cryptocurrencies, El Salvador, IMF, President Nayib Bukele, World Bank

Early in the morning of June 9th, a bill referred to as the Bitcoin Law passed through the Salvadorian congress with a supermajority of 64 out of 82 votes. Introduced by the nation's president earlier in the month, the legislation made the Central American nation the first in the world to recognize a cryptocurrency as legal tender. While waiting for the results of the vote that day, Nic Carter, a writer and journalist who focuses on Bitcoin and blockchain developments, was hosting an otherwise uneventful Twitter Space, a voice-only discussion room, for members of the Bitcoin community to discuss the…

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