Michael Oliver and David Wolfin return as guests this week. So far in 2023 the equity markets are in a melt up phase all excited about artificial intelligence. But what happens to those non profitable meme stocks when interest rates surge higher due to the Fed’s need to resume borrowing to fund America’s skyrocketing deficits? We will ask Michael to share his view on that question while David will talk of Avino’s successful expansion of is silver resources and plans to ramp up silver production. In addition to the silver markets, we will ask Michael’s views on stocks, bonds and…

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Some investors in the markets must be saying “Thank God for AI.” Were it not for that bubble, everything would have been down this week. Nvidia Corp. (chart below) saw its stock price explode from a little over $300 to $389 in two trading days after the company announced better than expected earnings and strong guidance.   Meanwhile, Zero Hedge reported on Friday that U.S. corporations are filing for bankruptcy at the fastest pace since 2010. The increase is most visible among large companies, where there were 236 bankruptcy filings in the first four months of this year and more…

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This week has most certainly been a risk-off week. Money flowed into stocks and commodities and the speculative Bitcoin while flowing out of safe havens of gold and Treasuries. All the talk about AI, which I’m personally finding very interesting, is no doubt a momentum play that is sucking a lot of naive investors in toward the end of this long-term equity bull market. BofA’s Hartnett said, “It would be so ‘on-brand’ for stocks to melt-up into recession, suck them all in right before the hard landing.” If you are wondering why stocks continue to rise even as rates are…

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Tavi Costa, Kevin Smith and Quinton Hennigh of Crescat Capital return. After many generations of Keynesian fiscal and monetary policies, the leading capitalist nation in the world is now heading toward bankruptcy. That’s not because capitalism has failed. Rather it’s because politicians following Keynesian economists have done their level best to destroy capitalism. While policy makers pass laws that generate votes from an uneducated populace and to line their own pockets, China and modern-day Russia have proven Marx wrong in thinking capitalism will inevitably give way to a socialist utopia. Both countries in some ways portray economic systems more akin…

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In this episode of Radio Rothbard, Ryan McMaken and Tho Bishop take a revisionist Rothbardian lens to American history. Was the American revolution a good thing? Was Andrew Jackson better than Thomas Jefferson? Does a historical narrative really matter? Tune in for this and more! New Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/RothMug  PROMO CODE: RothPod for 20% off Powered by WPeMatico

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In this episode of Good Money, Tho Bishop is joined by Dr. Jonathan Newman to discuss the real costs of government spending. The end of the debt ceiling battle has resulted in the predictable outcome of normalizing the fiscal insanity of covid-era spending. Tho and Jonathan discuss how this was predictable to those familiar with the work of Dr. Robert Higgs, how mainstream GDP measures miss the true costs of government, and alternative approaches Austrian economists use to provide a clearer understanding of what is really going on in the economy.  Good Money listeners can order a special $5 book…

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Like snobby teenagers claim of themselves, many say that “nobody understands artificial intelligence (AI).” For example, in a recent interview between Jordan Peterson and Brian Roemmele about ChatGPT, Jordan Peterson claimed that “The system is too complex to model” and each AI system is not only incomprehensible but unique. He further claims that “some of these AI systems, they’ve [AI experts] managed to reduce what they do learn to something approximating an algorithm. . . . [but] Generally the system can’t be and isn’t simplified.” Brian Roemmele concurred: “nobody really understands precisely what it’s doing and what is called the hidden layer.…

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Now that the US economy is totally dependent on trillions of dollars in stimulus and speculative gains reaped from the stimulus, there is no Real Economy left to pick up the pieces when the credit-stimulus-speculation bubbles all pop. When economists speak of organic growth, they’re referring to growth that arises naturally from the expansion of population, advances in productivity gained from better training and wise investments and the fruits of innovation. Organic growth doesn’t need constant stimulus, nor is it dependent on speculation. It doesn’t need to be juiced by central banks and government to function. In an economy that…

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Americans have long thought of themselves as people of action. As Leonard Read noted in his article “How to Gain Liberty,” the sentiment “I want less talk and more action” is (or at least once was) common among Americans. It even extends to situations when people recognize that their liberties are threatened. But then the question arises as to what sorts of action are appropriate in defense of our liberties: Thus speak Americans when they suddenly awaken to the fact that their liberties are endangered. Talk, they say, is useless; only action counts. But perhaps talk and action aren’t necessarily…

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By: Robert Aro On Wednesday, Federal Reserve Governor Philip N. Jefferson offered insights on the economy and the role of the Fed. The irony is evident as we find that those entrusted with overseeing the economy appear to be continuously involved in a journey of self-discovery, yet their understanding often lacks any connection to the real-world economy. He begins with an overview of the Federal Reserve’s approach to financial stability: A stable financial system is resilient even in the face of sharp downturns or stress events. It provides households and businesses with the financing they need to participate and thrive…

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By: Robert Aro In a 2022 survey of over 11,000 respondents, it was found that: … 73 percent of adults were doing at least okay financially, meaning they reported either “doing okay” or “living comfortably.” This is 5 percentage points lower than the prior year and one of the lowest observed since 2016. These findings were published by the Federal Reserve in the report titled Economic Well-Being of U.S. Households in 2022. The report attempts to examine the financial lives of U.S. adults and their families. With the data collection occurring in October of last year, the time lag is…

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Recently, I had the pleasure of attending a debate about the morality of capitalism between James Otteson and Michael Anton, a defender of economic nationalism. Otteson made a good case for capitalism; however, Anton derailed the debate by choosing to focus on specific policies rather than ethical concerns. Ironically, Anton admits that he has hardly ever picked up an economics textbook. Throughout the debate, Anton made claims that were either misleading or false. I will address the most egregious here. Tariffs and Free Trade Anton’s foremost claim is that tariffs are, in fact, beneficial for economic development. Without giving much…

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