John T. Reed’s news blog

America is “printing” money—so much that it now seems certain that on one future day—maybe tomorrow—the U.S. dollar will hyperinflate. That means a Hershey bar that now costs about $1.29 will rise in price to $100 then $1,000 then a million. In other words, the U.S. dollar will be worthless. You don’t think it can happen here? Many readers may think that is preposterous, impossible. During the Revolutionary War, the American colonies printed their own money. To fund the war, they printed too many. That currency was called a “Continental.” My wife’s last job was at the Federal Reserve Bank...

Democrats have now taken over the entire federal government. These are not your father’s Democrats. Here are things they can now do to cement themselves in power for at least a generation: • End the Senate Filibuster Rule. That requires 60 votes to pass many laws. But it is not in the Constitution. It is just a Senate rule and can be eliminated by a mere 50 votes, the number they now have, and the tie-breaking vote of Vice President Harris. Senator Joe Manchin (D-WV) has said he would not support ending the filibuster rule. So has Biden. But I...

I have a scoop. This ought to be on Fox but I do not see it there. . At the beginning of the Trump Administration, Speaker Nancy Pelosi said “The power of the Speaker is awesome. Awesome.” . Let me tell you how awesome. Her Speaker’s office has a Speaker’s Lobby, about a 40 foot long12 foot wide hallway. Her Praetorian Guards are authorized to SHOOT TO KILL any person who dares to enter Pelosi’s office lobby without permission. . Today, Ashli Babbit dared to enter the Speaker’s Lobby and was shot dead so fast she fell back out of...

What NCAA football should Army have? D-III high academic, NESCAC if they’ll have us. . Or a military academy, sort of, league: USCGA, USMMA, SUNY Maritime, Maine Maritime, MIT, Norwich. . Johns Hopkins might be a good model. They compete at the D I level in lacrosse, but D-III in football. They recruited my son, Dan. . There are also high academic D-III schools scattered around the US. Claremont, Pomona, Occidental, Chicago, Colorado, McAlester, St. Johns. . What about Air Force and Navy? Forget them. There might be one of the three academies that could compete in FBS if they...

I have long noted that Uber and Lyft are unprofitable and unable to ever be profitable. Their business model does not work. . But I and others have thought that maybe delivering THINGS rather than humans could be profitable because you can cram more into the same space, they are ready when the delivery driver needs and can be delivered almost any time. . Apparently not. Today’s WSJ says Instacart—hot start-up—is booming in terms of gross revenue. I do not know if Instacart makes a profit. In typical hot start-up fashion, the Journal did not deem that a material fact....