dollar

4Apr

By THEIRL1ADMIN01No Comments

LIFESTYLE

Expect The Dollar To Fall If The US Defaults On Debt And With It, Americans’ Standard Of Living

Michael Humphries, Touro College Congress has seemingly kicked the debt ceiling deadline down the road – but the threat of a future default still exists. On Oct. 7, 2021, lawmakers in the Senate agreed to extend the government’s ability to borrow until December. It came after Senate Minority Leader Mitch McConnell offered a temporary suspension to the debt limit, averting a default until at least December. But at that point, Democrats would have to find a way to raise the debt ceiling on their own – something they’ve said they won’t do. This isn’t the first time Republicans have resisted helping a Democratic president raise the debt ceiling. As an economist, I know that this political game of chicken has real-life consequences – even if it doesn’t end with default. In August 2011, duri...

The Biggest US Donors Gave $25 Billion In 2020 What That Says About High-Dollar Charity Today

According to The Chronicle of Philanthropy, the top 50 Americans who gave the most to charity in 2020 committed to giving a total of US$24.7 billion to hospitals, homeless shelters, universities, museums and more – a boost of roughly 54% from 2019 levels. David Campbell, Elizabeth Dale and Jasmine McGinnis Johnson, three scholars of philanthropy, assess what these gifts mean, the possible motivations behind them and what they hope to see in the future in terms of charitable giving in the United States. What trends stand out? Campbell: Pandemic. Pandemic. Pandemic. The share of giving that went to social service nonprofits, food banks and homelessness assistance groups rose sharply. At the same time, performing arts organizations, largely shut down as a result of the pandemic and starved of...

Why Does The US Benefit From A Dollar That Isn’t Tied To The Value Of A Glittery Hunk Of Metal?

The phrase “the gold standard” means, in common parlance, the best available benchmark – as in double-blind randomized trials are the gold standard for determining the efficacy of a vaccine. Its meaning likely comes from my world of economics and refers to what was once the centerpiece of the international monetary system, when the value of most major currencies, including the U.S. dollar, was based on the price of gold. Some economists and others, including President Donald Trump and his Federal Reserve Board of Governors nominee Judy Shelton, favor a return to the gold standard because it would impose new rules and “discipline” on a central bank they view as too powerful and whose actions they consider flawed. This is among several reasons Shelton’s nomination is controversial in the ...