On the the next radio program: "Living & Investing in a Dystopian Digital Currency World" David McAlvany, Michael Oliver & Quinton Hennigh are guests.
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Appearance of U.S. Government Solvency

Growing fear of financial fragility in the markets and rising fears of inflation are keeping the Fed suppressing the long end of the yield curve and proclaiming anti-inflation rhetoric. It reminds me very much of my early adult years, of the inflationary 1970s, when my first mortgage rate was 17.5%. Only this time, we are infinitely worse off ... [Read More]

Biden’s Last Throw of the Geopolitical Dice

Alasdair Macleod, Chen Lin and Michael Hudson return as guests this week on the radio program. One reality American policy makers overlook is that the basis for strong nations is a strong economic footing. Believers in the Keynesian fairy tale ... [Read More]

A Very Dangerous Economic Period

Our Good Friday celebration shortens the trading week to just four days. The last day of this trading week, April 1 was a day of resurrection for stocks more in tune with what we Christians will celebrate in the spiritual realm on Sunday. April 1 was ... [Read More]

President Biden’s Next $3 Trillion Boondoggle

David Stockman, Michael Oliver & Michael Timmins return at this week’s program. “Leave it to the New York Times to remind us why prosperity is not just around the corner. And that’s regardless of whether or not the force-feeding of $6 trillion ... [Read More]

State Legislatures Are Finally Limiting Governors’ Emergency Powers. But only Some of Them.

Last week, Indiana Governor Eric Holcomb vetoed a bill that would limit gubernatorial authority in declaring emergencies. The bill would allow the General Assembly to call itself into an emergency session, with the idea that the legislature could ... [Read More]

Critics Claim Bitcoin Is a Threat to the Environment. They’re Wrong.

One popular critique of bitcoin is energy cost per transaction. This doesn’t begin to capture bitcoin’s massive energy savings compared to fiat currency. Bitcoin’s cost per transaction is well known, and often critiqued; one article in Wired ... [Read More]

The “Helicopter Parent” Fed and the Fatal Crash of Risk

All the risks generated by gambling with trillions of borrowed and leveraged dollars didn't actually vanish; they were transferred by the Fed to the entire system. The Federal Reserve is the nation's Helicopter Parent, saving everyone from the ... [Read More]

Currencies Post Gains Vs The Dollar…

A Pfennig For Your Thoughts April 12, 2021 * Dollar Index continues to head downward...  * Chuck talks about inflation today...  Good Day… And a Marvelous Monday to you! The weather over the weekend turned chilly once again, as ... [Read More]

The Inverted Yield Curve and Recession

[This article is part of the Understanding Money Mechanics series, by Robert P. Murphy. The series will be published as a book in 2021.] The “yield curve” refers to a graph showing the relationship between the maturity length of bonds—such as one ... [Read More]

What Exactly Is Neoliberalism, and Is It a Bad Thing?

La verità, vi prego, sul neo-liberismo: Il poco che c'è, il tanto che manca (The truth, please, on neoliberalism)by Alberto MingardiMarsilio, 2019333 pages There are few things nowadays that ignite more hatred, especially within university campuses, ... [Read More]

Biden’s New Budget Plan Means Trump-Era Mega Spending Will Continue

The reality of federal spending under Donald Trump did much to put to rest the obviously wrong and long-disproved notion that Republicans are the political party of “fiscal responsibility.” With George W. Bush and Ronald Reagan, it was pretty much ... [Read More]

7 Observations on the Humane Nature of Capitalism

“You are hitting the nail with too many hammers.” I can still remember Bob Clower, my dissertation chairman at the time, saying that to me after reading my most recent work. It was directed at the fact that I had shown problems with a particular ... [Read More]

SPY Is Nearing Resistance @ $410…

My shorter-term analysis for the markets continues to stay Bullish and suggests the US reflation trade, the strengthening of the US and the global economy, and recovery from the COVID-19 restrictions will likely prompt a moderately strong upside ... [Read More]

Positive First-Quarter Data Point to a Global, Sustained Economic Boom

  Millions of Americans, it seems, felt that the time was right to trade in their clunkers for a new set of wheels. Sales of cars and light trucks surged an incredible 58% in March compared to last year, according to Bureau of Labor ... [Read More]

Is Price Gouging a Problem?

By: Lakshya Bharadwaj Is price-gouging wrong? For many, this practice does not exactly seem to be ethical. So, there is a moral angle here which suggests that raising prices of goods such as toilet paper and bottled water when a hurricane cuts off ... [Read More]

The 200th Anniversary of a Great American Demolition of Tyranny

This year is the 200th anniversary of the publication of one of the best American books on trade policy by one of the most thoughtful and least appreciated political analysts of the Founding Fathers era. I ran into John Taylor of Caroline when I was ... [Read More]

Marx, Abstract Labor, and Absurdity

Many readers will be familiar with Robert Paul Wolff’s In Defense of Anarchism, a brilliant criticism of the state’s authority that arrives at conclusions similar to those of Lysander Spooner. Wolff is probably best known for his work on Kant, but he ... [Read More]

Is a Cultural Revolution Brewing in America?

The lesson of China's Cultural Revolution in my view is that once the lid blows off, everything that was linear (predictable) goes non-linear (unpredictable). There is a whiff of unease in the air as beneath the cheery veneer of free money for ... [Read More]

From Christianity to Black Power, Rothbard Offers a Unique View

By: Lipton MatthewsJudged by the sheer quality and volume of his intellectual output, Murray Rothbard was a genius. Though we reflect on the ingenuity of his peculiar intellect - we must never forget that Rothbard was the master of defying ... [Read More]

What Clarence Thomas Gets Wrong about Big Tech

By: Jeff Deist Supreme Court Justice Clarence Thomas's recent concurring opinion in the Biden vs. Knight decision sent hopeful tremors across conservative legal circles and drew condemnation from libertarians. Was Thomas finally laying the groundwork ... [Read More]

The Equality Act’s Attack on Religion Is Really about Private Property Rights

With the introduction of the Equality Act, the Democratic Party and its allies continue the now well-established tradition of using “antidiscrimination” and “public accommodation” laws to continue the attack on the private sector and private sector ... [Read More]

Extending AnCap Analysis for Vaccine Passports, Court Rulings, and Desegregation

Using a recent Dave Smith interview of Michael Malice as a springboard, Bob elaborates his understanding of anarcho-capitalist principles to the thorny issues of vaccine passports, court rulings, and desegregation of the Old South. Mentioned in the ... [Read More]

Trust, Corruption, and the Cultural Foundations of Capitalism

Economists promote free market capitalism as the most advantageous system for human development. Notwithstanding the popularity of their rhetoric, capitalism remains a derisive term in the developing world. Transplanting promarket institutions to ... [Read More]