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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Your bogus economic dogma of “growth via the wealth effect” created the demographic karma that will bring down the status quo. What happens when you bleed your workforce while enriching those who already own assets with one bubble after another, all in the name of “fostering growth”? To answer this, let’s modify a felicitous phrase: Sorry Our Demographic Karma Ran Over Your Economic Dogma. The Demographic Karma is young people can no longer afford houses, healthcare or children and so the birthrate plummets and the workforce shrinks to the point that the bloated, heavily indebted status quo collapses under its…

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Once again, the economic system is trying to adjust to political and monetary interventions. The year 2023 marks the end of a historical period characterized by zero-cost credit. The monetary expansion that began in the early 2000s led to the great financial crisis of 2008 and the emerging markets boom. Exaggerated demand expectations and easy access to capital caused an overexpansion of production capacity and the subsequent industrial restructuring between 2015 and 2018. Later came covid, with a further reduction in production capacity while demand was sustained with new money. The result was the highest inflation since the 1980s and…

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Heritage Fellow Peter St. Onge joins Bob to set the record straight on several popular talking points about the debt ceiling. Bob on selling Gov’t resources to reduce the National Debt: Mises.org/HAP397a Powered by WPeMatico

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This episode of Good Money with Tho Bishop features guest Ryan Griggs of Griggs Capital Strategies. During the show, Ryan discusses his work with Bob Murphy on an Austrian understanding of inverted yield curves as a signal for recessions and how it differs from the mainstream analysis. He also discusses Nelson Nash’s infinite banking strategy as a means for capital accumulation, in contrast to traditional investment approaches. Ryan and Bob Murphy on the Austrian understanding of inverted yield curves: Mises.org/GM7aGriggs Capital Strategies: Mises.org/GM7b Powered by WPeMatico

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America and the Art of the Possible: Restoring National Vitality in an Age of Decayby Christopher BuskirkEncounter Books, 2023; xxv + 162 pp. Christopher Buskirk is the publisher and editor of the magazine American Greatness, and the title of that magazine, like that of the book, shows his principal concern. How can the American people regain the sense of optimism and purpose which we once had but have now lost? Buskirk says that in the public sphere, civilizational vitality is shown in a capacity for collective action, which is rooted in what the fourteenth-century Arab philosopher Ibn Khaldun called asabiyya.…

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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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By: Ryan McMaken What happened to the comments sections at mises.org? Unfortunately, we had to eliminate the comments, for now. The amount of spam was becoming difficult to manage, it was taking up a lot of staff time, and it was all slowing down the site quite a bit. The spam you did see what just the tip of the iceberg. However, some of our fine readers have put together a site where you can still comment on the articles, and with a lot of the same people who have contributed comments for years. Check it out: misesfans.org. Powered by…

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The Economist magazine in a recent editorial painted a rather positive image of the American economy. After encountering setbacks, the American economy often registers a buoyant recovery. Despite competition from rivals, America has retained her position as the world’s top economy. Some are bewildered by America’s enduring prosperity, but is it reasonable to expect less from a country designed to do business? The American Constitution is a fierce protector of property rights and economic freedom. Respect for property rights is so ingrained in the American legal system that for legal purposes corporations are considered as people. Because of this special…

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Should political reform be the result of a much-discussed comprehensive plan? Or should it come about through decentralized decision-making that deals with the situations at hand? Original Article: “Comprehensive Reform versus Piecemeal Reform”   Powered by WPeMatico

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