Tag Archives: newsletter

The BLS’s most recent labor market data is, well, troubling. Even the preferred if artificially-smooth Establishment Survey indicates that something has changed since around March. A slowdown at least, leaving more questions than answers (from President Phillips). That as much because of the other employment figures, the Household Survey. April and May, in particular, not just a slowdown but a drop in overall employee count. As I pointed out last Friday, a 2-month...

Three G7 central banks meet in the coming days, and they dominate the macro stage. The Federal Reserve's meeting concludes on Wednesday, the Bank of England on Thursday, and the Bank of Japan on Friday. The market recognizes a strong consensus has emerged at the FOMC for 50 bp hikes in June, but the unexpectedly strong CPI report before the weekend saw the market price in about a 50% chance of a 75 bp hike in July. Some Fed officials have been understandably...

Elon GOAT ($EGT) tauchte letzte Woche in den Massenmedien auf. In einem kurzen Segment auf Fox Business wurde der Altcoin mit den dafür Verantwortlichen besprochen. Worum geht es bei dem Projekt? Crypto News: Shitcoin Elon GOAT schafft es in die MassenmedienElon GOAT wurde im Januar dieses Jahres gelauncht und bisher hielt sich der Altcoin relativ stabil bei einer Marktkapitalisierung zwischen 4 und 5 Millionen US-Dollar. Der Low Cap Coin profitierte von dem Bericht...

The United States blacklisted NSO in November 2021 over the abuse of the powerful Pegasus cyberweapon by its clients. Keystone / Atef Safadi Credit Suisse pushed for NSO Group to keep selling its Pegasus spyware to new customers just weeks after the US blacklisted the Israeli cyberweapon manufacturer, saying authoritarian regimes had used its hacking tool to silence dissent. The request was made in a December letter by lawyers representing the Swiss bank and some of...

For well over a decade, Ronnie Stoeferle has written the annual In Gold We Trust Report. Since 2013 it has been co-authored by his partner Mark Valek and has provided a holistic assessment of the gold sector and the most important factors influencing it, including interest rates, debt, central bank policy and fundamental analysis. This years report undertakes a comprehensive macroeconomic analysis and examines the fundamental workings of the financial and economic...

The Lords of Easy Money: How the Federal Reserve Broke the American Economy by Christopher Leonard Simon and Schuster, 2022 viii + 373 pp. Christopher Leonard’s book brings to mind the familiar line from Faust: “Two souls, alas! dwell in my breast.” Leonard offers a penetrating criticism of the Fed’s vast expansion of the money supply, which has won for him praise from the noted hard-money advocate and friend of the Mises Institute James Grant. Leonard is a...

It isn’t just semantics, nor some trivial, egotistical use of quotation marks. There is an actual and vast difference between inflation and “inflation.” And in the final results, that difference isn’t strictly or even mainly about consumer prices. Who cares, most people wonder. After all, what does it really matter why prices are going up so far? The pain this causes is pain regardless of any post hoc pedantry. Insisting on proper terminology, however, is an attempt...

Our main text for the Rothbard Graduate Seminar this week is Murray Rothbard’s Power and Market: Government and the Economy, which contains a systematic treatment of one area of economic theory, interventionism. This represents a departure from past seminars in an important respect. Earlier seminars focused on texts by Mises or Rothbard that addressed a much broader scope of their thought. Previous seminar texts such as Man, Economy and State and Human Action over...

President Joe Biden has unveiled a three-part plan to fight inflation — or at least make people think he is fighting inflation. One part of the plan involves having government agencies “fix” the supply chain problems that have led to shortages of numerous products. Of course, any attempt by the government to solve the supply chain problems (which were caused by prior government interventions such as shutting down the economy for over a year) will not just fail to...

Swiss President Ignazio Cassis at the 51st annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, on May 24, 2022. © Keystone / Laurent Gillieron The Swiss are hosting a major international conference on reconstruction in Ukraine at the beginning of July. The agenda and a participants’ list are currently taking shape.  However, it’s unclear how much international enthusiasm this event – and its aims – will garner in the end. International support for...