By Mohamed A. El-Erian, Project Syndicate | May 27, 2025
With US economic policies driving financial and economic volatility and rousing the bond vigilantes, it is an open question whether we are witnessing the fragmenting of the international order, or just a bumpy ride toward a beneficial overhaul. Five factors could clarify the answer.
Indeed, the federal courts have been very clear that there is not any sort of legally binding contract between the federal government and current recipients of Social Security payments.
Persistent inflation concerns and heavy government borrowing have contributed to the bond sell-off.
To distinguish myself from traditional environmental approaches, I am opposed to bureaucracy and federal regulations being the primary way of fixing this problem.
This decline, in turn, is likely to cause a decline in the prices of goods and services, called deflation, and, in turn, produces an economic slump. According to Fisher, the trigger for this could be a shock such as a large decline in the stock market.
What follows is therefore best understood not as an attempt to invent a new school of foreign-policy thought, but as a theoretical refinement of a distinctly Rothbardian-Raimondian insight.
Indeed, the federal courts have been very clear that there is not any sort of legally binding contract between the federal government and current recipients of Social Security payments.
The aircraft landed safely at JFK and remained there for more than three hours before continuing to Dallas-Fort Worth, according to FlightAware data.
A Manhattan federal judge sentenced Michael Smith on Tuesday, marking the first criminal conviction in the case.
