Federal Reserve running money printing press in high gear - If inflation is so disruptive, why does the Fed engage in these money-creation binges in the first place? It creates the money because the federal government wants to spend it, and raising taxes explicitly would be politically unpalatable. But running the money printing press in high gear has an insidious effect: A portion of every existing dollar is effectively confiscated by the Fed and transfused into the newly created currency, which the federal government can now spend freely. This is how the Fed transfers wealth from the people to the bureaucrats. Heritage Foundation: EJ Antoni

 

Is crypto insider trading really ‘insider trading’? Prosecuting fraud in the crypto space - Cryptocurrency conjures images of both the Wild West and the Wolf of Wall Street. Crypto advocates, of course, dispute this characterization, but the recent implosion of FTX—one of crypto’s biggest exchanges—isn’t helping their case, especially given the allegations of wild mismanagement and possible (if not likely) fraud. Heritage Expert: Zack Smith

 

Unhappy New Year: CBO Forecasts Poor Economy, Soaring Deficits in 2023 – Howabout inflation? The inflation picture is also less optimistic. The CBO had previously projected that inflation would fall to near the Federal Reserve’s 2% target by 2023. Now, the budget office is not so sure. The latest CBO report pegs the most likely range for 2023 inflation at between 1.8% and 4.6%. In other words, inflation will probably be lower than it was in 2021 or 2022, but will probably be worse than any other year in the past one to three decades. Heritage Expert: Preston Brashers 

 

What Taxpayers, Workers, and Retirees Need to Know About Record $35.8 Billion Bailout of This Private Union Pension – Behind this bailout is a tragic history of reckless actions by self-seeking unions and muddied political favoritism that allowed the problem to fester for decades unchecked. What the Biden administration applauds as a “protection” of hard-earned retirement benefits is instead an appalling, no-strings-attached bailout that picks winners and losers. Heritage Expert: Rachel Greszler

Conservatives, Christians Systematically Excluded From Benefits of Christmas Shopping on Amazon - Amazon systematically excludes many conservative Christians from the kind of Christmas cheer that comes with knowing that every purchase helps a good cause of their choice. Thanks to Amazon’s decision to exclude organizations that the SPLC brands “hate groups,” those who support religious liberty can’t help ADF with their doll or other purchases. Heritage Expert: Tyler O’Neil