US fiscal realities are well known. Total federal debt outstanding has now reached $34 trillion, up from $98 billion in 1981, $5.67 trillion in 2000, $13.56 trillion in 2010, and $26.95 trillion in 2020. And at 120 percent of the US economy’s productive capacity (gross domestic product), the federal debt matches that at the end of World War II. That $34 trillion, when spelled out, is the number thirty-four followed by twelve (count ’em) zeros separated by four...
Read More »How the US Regime Subsidizes Immigration—both Legal and Illegal
In recent months, stories from both the legacy media and the independent media have continued to pile up on how undocumented foreign nationals—also known as “migrants” and “illegal aliens”—are able to take advantage of a vast network of taxpayer funded benefits in daycare, medical care, housing, and more. For example, both the New York Post and Denver Post report that these foreign nationals have “overwhelmed” the Denver Health hospital system in Denver, and that the...
Read More »There Is Successful Governance Outside of State Power
Government and state are terms typically used synonymously these days. But if a state is an institution with a monopoly on the allowable use of aggression in a given territory, is a government always this as well? We know governing is needed in lots of private non-monopoly-wielding institutions, from large manufacturing corporations to local tennis clubs. So if we think outside the state, we can find ways that private governments can be established and developed to...
Read More »America’s Growing Banking Crisis
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Doug French to discuss the health of US banks, the specific dangers of commercial real estate debt, and the risks of industry consolidation. Discussed on the Show “The Fed Claims the Banking System is “Sound and Resilient.” The Banks’ Balance Sheets Say Otherwise” by Douglas French: Mises.org/RR_173_A “The Fed Prepares for a Bank Crisis While Telling Americans the Economy is Strong” by...
Read More »GDP is a Poor Measure of Economic Health
Gross domestic product (GDP) is the most common measure of national wealth and economic growth. Yet the layman—and even many businessmen and economists—is taken aback when mainstream commentators and professionals get very excited about changes to GDP, which seem to have little to no impact on real economic conditions. While GDP can sometimes reflect real economic conditions, this is often when conditions are very favorable or unfavorable and where other techniques...
Read More »Climate Deniers Deny Socialism. That’s Why the Regime Hates Them.
So-called climate change is really an excuse for government to do what it does worst: intervene in our economic affairs. While government efforts will not cool the planet, they will make life more difficult for the planet’s inhabitants. Original Article: Climate Deniers Deny Socialism. That's Why the Regime Hates Them. [embedded content]...
Read More »A Short History of the Right to Self-Determination
Modern international law tends to grant a right to “remedial self-determination” only in extreme cases. Unfortunately, this position accepts that states ought to be free to violate human rights so long as the abuses fall short of war crimes and genocide. Original Article: A Short History of the Right to Self-Determination [embedded content]...
Read More »Washington’s Planned Theft of Credit Card Benefits
Congressional Democrats are trying to intervene in a complex and varied market they know little about but that consumers navigate without need of help. This will not end well. Original Article: Washington’s Planned Theft of Credit Card Benefits [embedded content] Tags: Featured,newsletter
Read More »Are We Really All in This Together?
Whenever governing elites create a new crisis, they insist that “we're all in this together.” It’s time to ignore their lies altogether. Original Article: Are We Really All in This Together? [embedded content] Tags: Featured,newsletter
Read More »Does the Balance of Payments Determine Exchange Rates?
It is a common belief that a key factor in determining the currency exchange rate is the balance of payments. An increase in imports increases the demand for foreign currency. To obtain the foreign currency, importers buy it using domestic currency, which strengthens the exchange rate of the foreign currency against domestic money. Conversely, an increase in exports, in which exporters exchange their foreign currency earnings for domestic currency, increases the...
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