Paulitical Economy™

Post 351: The Fake Wealth Effect that Leads to a Divided Society


Listen Later

  • Delta Airlines passenger revenue growth is barely in positive territory.
    • But falling fast in economy class.
  • Walmart takes to the air.
    • In less than two years drones will be delivering to over 40 million Walmart customers.
  • Saks Global files for bankruptcy protection.
  • A look at the evolution of Canada’s housing affordability crisis.
    • The Bank of Canada first handed the baton to municipal and then federal governments but took it back after COVID.
  • Consumer products company Helen of Troy sales have accelerated downwards.
    • Its share price is down 93% since its peak in 2021.
      • But has still grown at an average annual rate of 9% over the last 40 years.
  • In Financial Ructions
    • U.S. job numbers remain relatively weak.
      • Yet, over the last two months, jobs in the private sector are growing strongly.
        • And government jobs have been declining.
    • A look at a report that says we are only at the beginning of a gold bull market.
  • In our book review of Depression, War and Cold War by Robert Higgs:
    • Further proof that the high real GDP numbers during World War II did not represent economic prosperity.
      • And that low real GDP numbers immediately after the war did not signal consumer hardship.
    • Although real GDP declined in 1946, in terms of the growth in private investment, it was a year unmatched in U.S. economic history.
      • But mainstream economists still point to war time boom and postwar contraction in an attempt to falsely validate Keynesian economics. 


...more
View all episodesView all episodes
Download on the App Store

Paulitical Economy™By Paul Musson