As the Fed increases interest rates to reverse the inflation it has caused, firms that depended on easy money will face the bankruptcy judge. Stay tuned; there's more to come. Original Article: "The Bankruptcy Caravan Is Now Arriving: Time to Pay for the Easy Money" [embedded content] Tags: Featured,newsletter
Read More »Review: Orwell’s The Road to Wigan Pier
While George Orwell wrote magnificently against totalitarianism, his attempt to defend socialism in The Road to Wigan Pier stumbled badly. Original Article: "Review: Orwell's The Road to Wigan Pier" [embedded content] Tags: Featured,newsletter
Read More »Default by Inflation Is the Real Drama in the Global Debt Market
The real drama of default in global markets has not been the federal debt ceiling negotiations in Washington but the write-off by inflation. The issue of whether it turns out that the US Treasury for a few weeks has been slow in servicing its debts—with all delays subsequently rectified—is a sideshow. We could regard this as camouflage for the ongoing real write-off operation. In this, countries led by the US, where a great inflation emerged during the pandemic and...
Read More »Myth #2: Deficits Do Not Have a Crowding-Out Effect on Private Investment
Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard. In recent years there has been an understandable worry over the low rate of saving and investment in the United States. One worry is that the enormous federal deficits will...
Read More »Individualism in the US Has Helped Make It an Economic Success
Individualism, while condemned in some cultures, has helped make this country economically successful. Will the influx of immigrants from cultures that devalue individualism reverse that success? Original Article: "Individualism in the US Has Helped Make It an Economic Success" [embedded content] Tags:...
Read More »Higher Corporate Profit Margins Aren’t Causing Inflation
The usual suspects such as Robert Reich claim that corporate profits are causing inflation. Actually, increases in corporate profits are tied to increases in inflation. Original Article: "Higher Corporate Profit Margins Aren't Causing Inflation" [embedded content] Tags: Featured,newsletter
Read More »“Trans Rights” Means Trans Entitlements and the End of Civil Society
The trans rights movement has quickly moved into government coercion and outright violence. There is nothing libertarian about what is happening in this movement today. Original Article: "“Trans Rights” Means Trans Entitlements and the End of Civil Society" [embedded content] Tags: Featured,newsletter
Read More »David French Gets to Sit with the Cool Kids at the NYT Lunch Table
Most of us would like to forget many of the unpleasant aspects of our adolescence, and especially our days in middle and high school. No matter what the school setting, private or public, every place had its “cool kids” who ruled over the rest of us, especially in the school cafeteria. Journalism has its own version of the “cool kids,” those being reporters and writers from larger media outlets such as the New York Times (NYT) or from network news. In the past few...
Read More »Fossil Fuels Enable Us to Better Fight Fires and Other Environmental Disasters
This week we’ve seen a relatively unprecedented environmental phenomenon in New York City. Canadian wildfires have led to the worst air quality New York has ever had—and the worst air quality anywhere in the world right now. The air has taken on a sepia tint, and the city looks like the setting of a postapocalyptic movie. Many individuals are blaming the situation on climate change and calling for mass government intervention. Alexandria Ocasio-Cortez, for example,...
Read More »Commodity Prices Debunk the “Blame Ukraine” Excuse for Inflation
Most politicians have used the “Ukraine invasion card” to justify the massive inflationary burst in 2021-2023. It does not matter if inflation was already elevated prior to the war. Supply chain disruptions, demand recovery, wage growth… Many excuses were used to justify inflation, except the only one that can make aggregate prices rise in unison, which is the creation of more units of currency well above demand. Inflationists will blame inflation on anything and...
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