<p>Carl Icahn, the chair of hedge fund Icahn Enterprises, warned last week that <a href="http://dailywire.com/topic/inflation" target="_blank" rel="noopener">inflation</a> in the United States is comparable to the monetary phenomena that contributed to the fall of the Roman Empire.</p>
<p>Price levels between August 2021 and August 2022 rose 8.3%, according to <a href="https://www.bls.gov/news.release/cpi.nr0.htm">data</a> from the Bureau of Labor Statistics, marking a slight moderation from an 8.5% year-over-year increase in July and a 9.1% year-over-year increase in June. The <a href="http://dailywire.com/topic/federal-reserve" target="_blank" rel="noopener">Federal Reserve</a> responded on Wednesday by <a href="https://www.dailywire.com/news/heres-what-the-federal-reserves-recent-rate-hike-means-for-the-economy">increasing</a> the target federal funds rate by 0.75% — a move that caused a stock market <a href="https://www.dailywire.com/news/federal-reserve-announces-rate-hike-of-0-75">selloff</a> and mirrored identical aggressive rate hikes in June and July.</p>
<p>During an <a href="https://www.marketwatch.com/story/carl-icahn-to-investors-the-worst-is-yet-to-come-11663795164">interview</a> with MarketWatch, Icahn pointed to the central bank’s quantitative easing regime over the past two years as the key impetus for soaring inflation and warned that “the worst is yet to come.”</p>
<p>“We printed up too much money, and just thought the party would never end,” remarked Icahn, who worked as a special regulatory reform adviser during the Trump administration.</p>
<p>To encourage business and consumer activity during the lockdown-induced recession, the Federal Reserve had <a href="https://www.dailywire.com/news/federal-reserve-releases-plan-to-more-urgently-address-high-inflation">pegged</a> a near-zero target interest rate and acquired bonds from the market. The rollback of the monetary stimulus occurs as price levels rise at the fastest rate in four decades.</p>
<p>“Inflation is a terrible thing. You can’t cure it,” Icahn added, observing that rapidly rising price levels led to the collapse of the Roman Empire. “You can’t get that genie back in the bottle too easily.”</p>
<p>In addition to political turmoil and military conflict, the period between 200 AD and 300 AD saw multiple currency devaluations, with prices rising nearly 1,000% between 258 AD and 275 AD alone, according to a <a href="https://mises.org/library/inflation-and-fall-roman-empire">lecture</a> from Baruch College history professor Joseph Peden. The last Western Roman emperor was deposed by Germanic barbarian forces in 476 AD.</p>
<p>However, policymakers have sought to convince market actors that the Federal Reserve is serious about curbing inflation. During a <a href="https://www.dailywire.com/news/jerome-powell-vows-to-restore-price-stability-even-though-federal-reserve-must-first-bring-some-pain">speech</a> at the central bank’s symposium in Jackson Hole, Wyoming, Federal Reserve Chair Jerome Powell said that officials are prepared to “bring some pain” to combat rising price levels and return inflation to the long-term target of 2%.</p>
<p>“Price stability is the responsibility of the Federal Reserve and serves as the bedrock of our economy,” he asserted. “Without price stability, the economy does not work for anyone. In particular, without price stability, we will not achieve a sustained period of strong labor market conditions that benefit all.”</p>
<p>The central bank’s newfound hawkishness has provoked criticism from other experts. Steve Forbes, the chair of Forbes Media and editor-in-chief of Forbes Magazine, argued on Monday that monetary policymakers do not need to <a href="https://www.dailywire.com/news/steve-forbes-reveals-the-key-tool-officials-are-not-wielding-against-inflation">dampen the economy</a> in order to fight inflation. “No central banker today — hardly any — talks about stable currencies. It’s about depressing the economy to fight inflation,” Forbes remarked. “With unstable currencies you get less productive long-term investments, which is key to economic growth.”</p>
<p>Lawrence Summers, who led the Treasury Department and the National Economic Council during the Clinton and Obama administrations, said that policymakers will <a href="https://www.dailywire.com/news/a-serious-inflation-problem-top-obama-economist-sounds-the-alarm-over-prices-as-white-house-celebrates">likely fail</a> at curbing inflation without increases in joblessness. “Core inflation is higher this month than for the quarter, higher this quarter than last quarter, higher this half of the year than the previous one, and higher last year than the previous one,” he said.</p>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

‘The Worst Is Yet To Come’: Top Hedge Fund Manager Compares American Inflation To The Fall Of Rome

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News

Economy

Federal Reserve

Inflation

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

‘The Worst Is Yet To Come’: Top Hedge Fund Manager Compares American Inflation To The Fall Of Rome