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The “new history of capitalism” (NHC) continues to receive widespread acclaim despite mounting inaccuracies. Although critical reviews have punctured adherents’ arguments many still cling to wrongheaded assumptions that exaggerate the role of slavery and cotton in powering America’s economic progress. Several industries were complicit in fueling slavery, but their success was never hinged on slave production. In fact, slavery proved to be a hindrance to commercial...

[caption id="attachment_949458" align="alignleft" width="400"] © Guenter Purin | Dreamstime.com[/caption] The Swiss People’s Party (UDC/SVP) argued this week that the CHF 6 billion spent on state employees should be cut, reported 20 Minutes. Since 2007, the amount spent on state employees has risen by around a third from CHF 4.5 billion to more than CHF 6 billion. In 2021, there were close to 40,000 people working for the Swiss state, a number...

Media reports claim this debt prevents economic recovery. Chuck Schumer would erase it with the flick of a pen. Elizabeth Warren would remove it to free students’ ability to buy a house and form a family. Janet Yellen opines paying off student loan debt (SLD) will free up venture capital. Alexandria Ocasio-Cortez claims the proposed Biden plan is inadequate. The complexities of SLD are simplified for the public by moving details into an abyss of aggregates; “average...

Overview: The continued surge in US rates and inability of the equity market to sustain gains saw the post-Truss sterling rally unwind amid a broader recovery of the dollar. Sterling has been sold to new lows for the week. Meanwhile, the dollar has held above JPY150, and the BOJ hand has not been seen. It rose to almost JPY151 in Europe. Equity markets are on the defensive. Nearly all the bourses in Asia fell, and the 1.65% drop of the Stoxx 600 is the biggest loss...

Rep. Alex Mooney (R-WV) joined Fox Business in support of H.R. 9157, the Gold Standard Restoration Act. “The Federal Reserve note has lost more than 30 percent of its purchasing power since 2000, and 97 percent of its purchasing power since 1913,” the Congressman from West Virginia told host Kennedy. Economists have observed that the elimination of gold redeemability from the monetary system freed central bankers and federal government officials from accountability...

Nicaraguan President Daniel Ortega New Jersey Congressman Albio Sires is complaining about financial aid that international agencies are providing Nicaragua under what he says is “the pretext of poverty reduction, disaster relief and small business support.” He points to Nicaragua’s dictatorial regime headed by socialist Daniel Ortega as the reason for his complaints.  Sires is right to complain about foreign aid to Nicaragua, but why limit a critique of governmental...

21.10.2022 – 2020 was marked by the COVID-19 pandemic, which affected the entire regional economic fabric in Switzerland. National growth in gross domestic product (GDP) fell to –2.4% at the previous year’s prices and almost all cantons recorded a decline in activity. Jura was the most affected (–8.5%), followed by Neuchâtel (–6.5%), Glarus (–5.3%) and Ticino (–5.2%). Only the cantons of Zug (1.6%) and Schaffhausen (0.7%) recorded an increase. These figures come from...

Energy Minister Simonetta Sommaruga presents Switzerland’s winter power reserve plans. ©keystone/peter Schneider The Swiss government has put forward plans to create reserve power plants aimed at shoring up the country’s energy supplies during the winter. The proposal to create a network of reserve plants was presented on Wednesday for a period of public consultation that will end on November 23. This follows other measures, such as increasing capacity at...

An energy policy that bans investment in some technologies based on ideological views and ignores security of supply is doomed to a strepitous failure. The energy crisis in the European Union was not created by market failures or lack of alternatives. It was created by political nudging and imposition. Renewable energies are a positive force within a balanced energy mix, not on their own, due to the volatile and intermittent nature of the technology. Politicians have...

Mit viel Tamtam wurden Bitcoin ETFs diskutiert und eingeführt. Vor einem Jahr war es der BTC futures-based ETF, der als BITO am New York Stock Exchange gelistet wird, der mit großem Medienhype eingeführt wurde. Genau ein Jahr später hat der ETF die Erwartungen nicht erfüllt und sogar gegen den BTC selbst an Wert verloren. Bitcoin News: Bitcoin ETF underperformed Year-to-YearDer Markt hat generell im Jahresvergleich verloren. Daher überrascht es nicht unbedingt, dass...