SNB & CHF

For a video version of this article, see here and below. Donald Trump created some excitement last week when he suggested that he might abolish the income tax and replace it with taxes on imports. Understandably, Most of the excitement came from the prospect of abolishing the income tax. Of course, the Trump plan isn’t to simply abolish the income tax, it’s to replace it with another tax. Moreover, the Trump proposal, like most so-called tax reform programs, is...

Public opinion polls consistently show the economy is one of the top issues, if not the top issue, for American voters. This may strike some as odd, since official government statistics show low unemployment and declining price inflation, suggesting the Federal Reserve has engineered a “soft landing” bringing down inflation without causing a recession. So why the concern over the economy? One reason is more people are realizing government economic figures hide the...

As Kamala Harris declares herself open to paying reparations for slavery in a desperate bid to win more black voters, the debate about redressing historical injustices has been once again reignited. California has passed a raft of new proposals “as part of a reparations legislative package” with policies on education, housing, and criminal justice for the benefit of black people. New York has created a commission to study the harms caused by slavery with a view to...

Overview: A consolidative tone is emerging in the foreign exchange market as the week's key events begin tomorrow:  UK budget, eurozone and US Q3 GDP, and the US ADP private sector jobs estimate, and quarterly refunding. Outside of the Norwegian krone, which is up nearly 0.5%, the other G10 currencies are largely +/- 0.1%. The yen, Swiss franc, and antipodeans are trading with a slightly heavier bias. Among emerging market currencies, most from the Asia Pacific...

In recent years, a disturbing development has taken place in America’s universities. People who apply for faculty positions, and those who are on the faculty and want to be promoted are required to make “diversity statements,” in which they declare their commitment to DEI—diversity, equality, inclusion—and detail their activities on behalf of this goal.Here is an example of this: at UCLA, applicants to the faculty have to sign this: “Diversity statements usually are...

Key market indicators for November 2024 present a complex but opportunity-filled environment for traders and investors. Following the first phase of Federal Reserve rate cuts and growing global uncertainties, the technical landscape suggests several notable shifts. Let’s explore the key market indicators to watch. Note: If you are unfamiliar with basic technical analysis, this video is a short tutorial. [embedded content] Seasonality and Breakout Patterns...

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order....

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order....

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order....

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order....