Tag Archives: Featured

Governments and central banks have become the lender of first resort instead of the last resort, and this is immensely dangerous. Global debt soars, inflation creeps in, and many of the so-called supply chain disruptions are the result of zombification after years of subsidizing low productivity and penalizing high productivity with increased taxes. There are many reasons why nations should not “spend now and deal with the consequences later.” First, the spending is...

Quantitative easing was designed as a tool to provide time for governments to implement structural reforms, boost growth, and strengthen the economy. However, it has become a tool to increase the size of government and take increasingly riskier levels of debt. The United States economy has not strengthened in the period of enormous fiscal and monetary stimuli, as the latest data shows. It needs increasing units of debt to generate a new unit of gross domestic product...

There are five additional points that have been made about the Alex Jones case that I wish to address, four of which were expressed in emails to me and one of which was expressed in an article published today by Judge Andrew Napolitano. (See part 1 and part 2 of this series here and here.) 1. Some of Jones’s supporters say that the Connecticut trial was a “kangaroo” proceeding because the judge excluded matters that Jones wanted to tell the jury. But it’s important...

For many commentators, a change in the shape of the differential between the long-term interest rate and the short-term interest rate—i.e., the yield spread provides an indication of the likely direction of the economy in the months ahead. Thus, an increase in the yield spread raises the likelihood of a possible strengthening in economic activity in the months to come. Conversely, a decline in the yield spread is seen as indicative of a possible economic downturn...

Switzerland continues to look for ways to save on electricity and gas this winter. © Keystone / Gaetan Bally Switzerland has launched an Energy Saving Alliance of companies, government, cantons, civil society and municipalities in an effort to preserve gas and electricity supplies over the winter. The Alpine state is among many European countries facing power shortages following Russia’s decision to cut off gas supplies. Swiss Energy Minister Simonetta Sommaruga and...

In Switzerland, it pays not to be married. Married couples pay higher taxes and receive lower state pensions than unmarried couples. Two referenda were launched this week to change this, reported RTS. [caption id="attachment_948338" align="alignleft" width="400"] Photo by Mikhail Nilov on Pexels.com[/caption] Across much of the world, individuals and couples pay the same tax and receive the same welfare payments regardless of whether they are...

In effect, authorities created two rat farms, both unintended: the sewers, and the private-sector rat-farms. The history of Rat Farms offers a valuable lesson in how markets and bureaucracies work. The story of how the colonial authorities in Hanoi came to establish two kinds of rat farms is highly instructive. The first rat farm was unintentional. French colonial authorities decided to modernize the French Quarter of Hanoi (where Westerners lived) by constructing a...

Viele glauben, dass die Mass Adoption den größten Schritt machen wird, wenn ein Big Player wie Amazon Cryptocoins akzeptiert. Mit einem DeFi Projekt aus Kanada ist genau das nun möglich geworden. Allerdings hat die Sache einen Haken. Crypto News: Bei Amazon mit Cryptocoins bezahlen ist schon möglichFrench Connection Finance (FCF) hat mit einem DeFi-Protokoll Zahlungen mit Cryptocoins auf Amazon und auch Netflix ermöglicht. Allerdings brauchen Nutzer dafür eine Visa...

There are five macro highlights in the week ahead. After providing a thumbnail sketch of them, we will look more closely at the price action of the leading dollar-pairs. We suspect that the dollar is in the process of carving out a top amid ideas that a 5.0% terminal Fed funds rate is discounted. Sterling’s panic low recorded late September near $1.0350 may indeed by the cyclical low. It took place amid cries that it was an emerging market and linear projections...

Such is the intellectual stature of Ludwig von Mises that even many decades after his passing the opponents of classical liberalism and laissez-faire capitalism continue to attack his life’s work. A recent instance of this phenomenon is an article published in Jacobin by Matt McManus, which, rather unoriginally, accuses Mises of being a “market ideologue” rather than a “hardheaded thinker.” As readers of this website may expect, McManus fails to substantiate his...