Tag Archives: 6b) Mises.org

Prices of goods and services in the economy seem to be going through the roof, and both consumers and producers suffer from the falling value of their money. Unfortunately, the public turns to politicians in Washington and economists around the world for answers. While president Joe Biden and his administration call it Putin’s price hike, the US Bureau of Labor Statistics reports that over the last twelve months, the all items index increased 7.9 percent before...

Within days of the beginning of the Russian invasion of Ukraine, the Ukrainian regime applied for membership in the European Union. This is understandable from the perspective of Kyiv. If Ukraine is going to be denied membership in NATO—as increasingly looks to be the case—The Ukraine regime could nonetheless increase its geopolitical connections to the West by joining in the EU. Moreover, given the fact the EU is moving toward creating its own EU military...

Europe is not going to achieve a competitive energy transition with the current interventionist policies. Europe does not depend on Russian gas due to a coincidence, but because of a chain of mistaken policies: banning nuclear in Germany, prohibiting the development of domestic natural gas resources throughout the European Union, added to a massive and expensive renewable rollout without building a reliable backup. Solar and wind do not reduce dependency on Russian...

As the Federal Reserve hikes its lending rate to a range of 0.25–0.50 percent, murmurs are heard around the world, with financial pundits predicting doom due to the increased pressures imposed on the cost structures of firms that are recovering from the pandemic lockdowns. The Federal Reserve is leader of the group of central banks around the world that are ostensibly directed by their respective countries to pursue stability and smooth functioning of their...

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The United States is no longer in any position to remake the world in its image. It’s not 1945 or even 1970. Yet the US seems to be gearing up to bully half the world into compliance with the US Russia sanctions. Original Article: “Will Biden Sanction Half the World to Isolate Russia?” It is becoming increasingly apparent that isolating Russia and totally cutting it off from the global economy is not going to be easy. As I discussed last week, from Mexico to...

There are numerous articles mentioning that Saudi Arabia may use the yuan, China’s domestic currency, for its oil exports. How much does Saudi Arabia export to China? According to the Organisation of Economic Co-operation and Development, the kingdom’s main exports are to China ($45.8B), India ($25.1B), Japan ($24.5B), South Korea ($19.5B), and the United States ($12.2B). Exports of crude oil reached $145 billion in total. Saudi Arabia is the world’s largest oil...

Most people believe lending is associated with money. But there is more to lending. A lender lends savings to a borrower as opposed to “just money.” Let us explain. Take a farmer, Joe, who has produced two kilograms of potatoes. For his own consumption, he requires one kilogram, and the rest he agrees to lend for one year to another farmer, Bob. The unconsumed kilogram of potatoes that he agrees to lend is his savings. By lending a kilogram of potatoes to Bob, Joe...

For understanding our modern monetary troubles, Nik Bhatia’s pamphlet-sized book from last year hits exactly the right intersection between money and banking, between the past and the future. Clocking in at around 150 pages of easy prose, it’s accessible but not dumbed down, revealing but not inaccurate. It has a simple framework that Bhatia explains and explores with great expertise. As an introduction to what bitcoin is as a monetary technology, Layered Money: From...

Those gloating about Russia being “cut off” are overstating the case. In fact, many of the world’s largest countries have shown a reluctance to participate in the US’s sanction schemes, and even close US allies aren’t going along with it. Original Article: Some US policymakers and pundits are declaring that Russia—and its population—are cut off from the rest of the world. For example, political scientist Nina Khrushcheva has declared “Russia is hated by the...