SNB & CHF

The seventy-fifth anniversary of Ludwig von Mises’s Human Action invites us to ponder on Mises’s scholarly achievements and how the economic mainstream has not yet caught up to his advances in economics. Like Jesus Huerta de Soto points out in his preliminary study to the Spanish version of the thirteenth edition of Human Action: few are the treatises on the side of the mainstream that even try to match what Mises does in Human Action.Mises’s work is not only...

The seventy-fifth anniversary of Ludwig von Mises’s Human Action invites us to ponder on Mises’s scholarly achievements and how the economic mainstream has not yet caught up to his advances in economics. Like Jesus Huerta de Soto points out in his preliminary study to the Spanish version of the thirteenth edition of Human Action: few are the treatises on the side of the mainstream that even try to match what Mises does in Human Action.Mises’s work is not only...

Redundancies at Switzerland's largest bank will test the capacity of the financial sector to absorb jobs. Keystone A year ago Credit Suisse staff were stunned by the sudden demise of their bank. Many are now fighting for their careers with 3,000 Swiss posts set to be axed by their new employer UBS, starting this year....

15.04.2024 - The Producer and Import Price Index rose in March 2024 by 0.1% compared with the previous month, reaching 106.9 points (December 2020 = 100). In particular, petroleum products saw higher prices. Compared with March 2023, the price level of the whole range of domestic and imported products fell by 2.1%. These are the results from the Federal...

The city of San Antonio’s Status on Poverty Report was released recently, and the response was predictable. “I just want . . . some sort of an action plan.” Council should “better direct” taxpayer dollars “toward helping all San Antonians thrive.”If officials had a decent grasp of history, they’d know the likely outcomes from such efforts: more of the same.Poverty is the natural, initial state. Society wasn’t just born into affluence; it had to be created. As new...

The city of San Antonio’s Status on Poverty Report was released recently, and the response was predictable. “I just want . . . some sort of an action plan.” Council should “better direct” taxpayer dollars “toward helping all San Antonians thrive.”If officials had a decent grasp of history, they’d know the likely outcomes from such efforts: more of the same.Poverty is the natural, initial state. Society wasn’t just born into affluence; it had to be created. As new...

Interest rates surged last week on the back of a hotter-than-expected inflation report that wasn’t actually that bad (see below). Not that my – or your – opinion about these things matters all that much to the market. In the short run, all that matters is what the majority believes is the truth. What they believed last week was that inflation isn’t falling fast enough and the Fed will not be cutting rates anytime soon. That was enough to send the bond market into a...

The Anti-Concepts of Money The cash-value of promoting each of these anti-concepts is that they lead people to think that the central bank should impose a monetary policy. To make our lives better.  Our monetary policy is set by the Federal Reserve, which states that in pursuit of its mandate for price stability, it will engineer chronic 2% annual inflation. If we had nuclear reactor policy like this, power plant engineers would seek a slow, steady increase in core...

Last night, Brazilian fighter Renato Moicano went viral after his victory over JalinTurner at UFC 300, giving a shout-out to Ludwig von Mises himself.'I love America, I love the Constitution...I want to carry...guns. I love private property. Let If you something. If you care about your...country, read Ludwig von Mises and the six lessons of the Austrian economic school.The full clip is available here, with some colorful adult language included.Moicano's endorsement...

UBS already has to build up additional equity capital because it has become much larger as a result of the Credit Suisse takeover, Finance Minister Karin Keller-Sutter said. KEYSTONE/© KEYSTONE / MARTIAL TREZZINI In order to better protect taxpayers from the corporate failure of a systemically important bank in future, the Swiss government...