It's the best of times and the worst of times for the U.S. Justice System.

On the best hand, you have the U.S. Justice Department once and for all testing the legal theory out as to whether "anyone is above the law" in the United States.  This is a very, very important concept to explore because if "anyone is above the law" then the American people need to know "who it is". 

Can you imagine what it would mean if the legal system decided that someone is above the law?  Heck, it would mean that the Consitution would mean nothing to that someone--that person could ignore it altogether.  And this might explain why "el trumpo" wants to tear the Constitution up.

On the worst hand, you have a "extremely radical" U.S. Supreme Court looking, scouring to find previously adjudicated precedents that more than two-thirds of the America support to overturn because it goes against their biased beliefs.

And the world is watching as the greatest nation in the world struggles to make sense of itself.

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Globanomics feels that If there is another institutional entity outside of the US Supreme Court that needs fixing, it is not the Justice Department or the FBI, but the Federal Reserve.  As you know, globanomics puts up with economists, but they are not globanomics favorite people.  When Jerome Powell talks about a couple more "interest rate hikes" this year, when "inflation" has been coming down for more than a year now--is absolutely absurd.

In globanomics, interest rates will float with inflation.  It comes as no surprise to globanomics that inflation in the U.S. is lower than inflation in the rest of the world.  That should be the way things work in globanomics and the global market place.  Yes, inflation is a bit high now, but let's not forget that we are just getting over a pandemic period and the Russian/Ukrainian War is still going on.

Just the same globanomics feels that the "risk free interest rate" should float about 0.5% above the assumed one-year inflation assumption.  Risk free holds for U.S. Treasuries and MBSs that carry with them the stamp of a U.S. Guaranty--implying that mortgage rates should be about 1.0% above inflation (50 basis points covering the error potential in the inflation rate assumption and the other 50 basis points covering the risk and servicing costs associated with managing the loan.

Like the U.S. Federal Reserve, the higher Financial Committee of the World Federation will try to keep "inflation" as low as possible in the United States alliance.   The target range for inflation in globanomics falls somewhere between 0.5% - 2.0% inflation in the U.S. during steady state conditions.  The lower the inflation is in the U.S., the lower inflation will be in the rest of the world.  And lower inflation numbers help the "poor and middle class".  High inflation hurts the "poor and middle class".

I note this down, because it is important to understand.  

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Poor decisions made by institutions within any alliance, including the U.S. alliance, will show up in the scoring of the National Hierarchy of Needs for that alliance.  For example, the poor decisions by the U.S. Supreme Court will surely knock down the U.S. score in the "Freedom/Status" category, probably dropping it below that of many other contemporary alliances.  Mistakes by the Federal Reserve simply show up in degrading the economy of the U.S. alliance at the benefit of the other competing alliances.

The macroeconomic model for globanomics is the National Hierarchy of Needs--(i.e., food, water, health, sanitation, safety, business, energy, education, etc.).  Although unemployment and inflation do affect the National Hierarchy of Needs--it is the direction and speed of change in the National Hierarchy o Needs scoring that "globanomics" will focus most of its attention on.