Tag Archives: Featured

29.07.2022 – Turnover adjusted for sales days and holidays rose in the retail sector by 3.2% in nominal terms in June 2022 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.1% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO). Real turnover adjusted for sales days and holidays rose in the retail sector by 1.2% in June 2022 compared with the previous year. Real growth takes...

“If you don’t expect too much from me You might not be let down.” — Gin Blossoms, “Hey Jealousy” Inflation is a mechanism that government people use to fund wars, tyrannical governments, and favors to cronies. Inflation takes away significant fractions of the real value of savings. Savings are accumulated slowly. People add value, earn income, and defer purchases. Inflation depletes savings’ real value quickly. People then have to spend more to satisfy even their...

“Seniors hurt in Ponzi scam” headlined the story of elderly Southern Californians bilked in a pyramid scheme. While sad, the story reminded me of Social Security, since it is also a Ponzi scheme involving those older, with high payoffs to early recipients coming from pockets of later participants. With Social Security, however, it benefits those older at others’ expense. Pyramid scams collapse when they run out of enough new “investors” to pay earlier promises. Some...

Overview: The Federal Reserve delivered its second consecutive 75 bp rate hike, and Chair Powell left the door open for another large hike at the next meeting in September. Yet, the market took away a dovish message and the dollar suffered, rates slipped, and equities rallied. Central banks with currencies pegged to the dollar had to hike too. This includes Hong Kong, Saudi Arabia, Bahrain, and UAE, which matched the move in full. Kuwait and Qatar hiked by 25 bp and...

Das Federal Reserve Banking System (kurz: Fed) hat angekündigt, den Leitzins weiter zu erhöhen. Damit ist der Zins in den USA zwischen 2,25 und 2,5 Prozent angestiegen. Auch in Deutschland wurde eine Anhebung des Zinses durch die Zentralbanken angekündigt. Bitcoin News: US-Zentralbank kündigt Zinserhöhung an und Bitcoin steigt über 23.000 US-DollarMit der Erhöhung wird es jetzt sogar wieder Zinsen aufs Tagesgeld bei vielen Sparkassen und Banken geben. Der Schritt...

Systemic corruption on this vast scale optimizes failure and collapse. Debating which nations will “win” as the global economy unravels is a popular but pointless parlor game.Since the status quo in every nation is deeply, profoundly, systemically corrupt, there won’t be any “winners,” there will only be losers. Apologists love to say that corruption has always come hand-in-hand with power, and this is superficially true.Once a centralized hierarchy takes power,...

While governments have been assaulting private property rights for many years, they now are ramping up the pressure. Nothing less than our civilization is at stake. Original Article: “If Government Can Take from One Group, It Can and Will Take from Everyone” It wouldn’t be an exaggeration to argue that private property rights, as understood by classic liberal thinkers, by those who embrace Austrian economic theory, and by all members of an enlightened society, are...

Readers of the Mises Wire are most likely familiar with the Volcker moment. This was when former Fed chair Paul Volcker, in the face of steep price inflation, skyrocketed rates to nearly 20 percent. While critics of the Volcker moment complain that such a move also skyrocketed unemployment to almost 11 percent, it cannot be ignored that the price inflation was finally reined in. Not only did we see the benefit in reduced inflation, but Austrians have an answer...

Swiss pharma sales to Russia hit an all time high in June this year. © Keystone / Gaetan Bally Swiss exports of medicines to Russia have risen sharply since the start of the Ukraine war, according to an analysis by business news agency AWP. This analysis, based on government foreign trade data, shows Swiss pharma generated record revenue of over CHF330 million ($342 million) in June alone from sales to Russia. Russia has been subject to numerous sanctions owing to...

Overview: Better US news from the likes of Google, Microsoft, and Texas Instruments has helped lift sentiment today and is encouraging a more risk-on mood ahead of the FOMC meeting. News that US President Biden and China’s Xi will talk tomorrow for the second time this year may be notable but does not appear to be impactful in the capital markets. China’s CSI 300 and the Hang Seng were exceptions to the general advance of equities in the Asia Pacific region today....