Monthly Archive: February 2023

The Economics of American Gerontocracy

2023-02-18

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2023-02-18

With Yale economics professor Yusuke Narita suggesting mass suicide—seppuku—as the answer to Japan's rapidly aging demographics, Jeff and Bob take a hard look at the economics and humanity of greying America. Richard Hanania, "Gerontocracy Versus Western Civilization": Mises.org/HAP383a Bob on opting out of Social Security: Mises.org/HAP383b [embedded content]

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6d.) P: Bitcoin News aus aller Welt 1970-01-01 02:00:00

2023-02-17

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2023-02-17

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Good Causes, Brand Trust, and Profits: Why YouTuber’s Private Charity Is Wrongly Criticized

2023-02-17

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2023-02-17

No good deed goes unpunished claims the old proverb, and twenty-four-year-old YouTuber Jimmy Donaldson’s recent charity act of helping one thousand blind people see again has the world divided on the moral circumstances surrounding his private charity. Some would go so far as calling his benevolence a “stunt.” They are utterly wrong, and understanding his reasoning and motives behind the charity acts should negate any critique. A Successful, Yet...

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Fighting Inflation Really Means Fighting the Federal Reserve

2023-02-17

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2023-02-17

These days, the Fed and Chairman Jerome Powell are claiming the title of "inflation fighters." The more appropriate moniker should be "inflationists." Original Article: "Fighting Inflation Really Means Fighting the Federal Reserve" This Audio Mises Wire is generously sponsored by Christopher Condon.

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Money versus Monetary Policy

2023-02-17

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2023-02-17

With all due respect to Niall Ferguson, whom I've heard of, and Huw van Steenis, whom I've not, this tweet is quite preposterous.  I've personally met more than five people who understand money just in my own circles. What they mean is “monetary policy,” which is in fact very difficult to understand—given it effectively operates as a political program within the muddled field of macroeconomics. Monetary policy, unlike money per se, is ad hoc,...

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The Government Seeks Totalitarian Money

2023-02-17

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2023-02-17

The Global Currency Plot: How the Deep State Will Betray Your Freedom, and How to Prevent Itby Thorsten PolleitLudwig von Mises Institute, 2023; 190 pp. Thorsten Polleit’s outstanding new book is packed with insights about both the philosophy of economics and economic policy, and as he shows, his philosophical standpoint enables him to grasp the essence of the financial world, of which he is a master. Polleit is a follower of Ludwig von Mises,...

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Why the End of the Petrodollar Spells Trouble for the US Regime

2023-02-17

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2023-02-17

By itself, the end of the petrodollar won't destroy the dollar. But it will continue a trend that weakens both the dollar and the US regime's power.  Original Article: "Why the End of the Petrodollar Spells Trouble for the US Regime" This Audio Mises Wire is generously sponsored by Christopher Condon.

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Taxation Is Theft and Cannot Be Justified Even for Charitable Causes

2023-02-17

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2023-02-17

In her article “Multinationals Make Obscene Profits Out of Global Crises—Tax Them to Defend Human Rights,” Magdalena Sepúlveda called for more taxation of multinational corporations and the rich as a means to finance policies that are aimed at protecting the most vulnerable from what she calls “the cost of living crisis.” In this piece, I would like to respond to Sepúlveda by saying that taxation is theft and any attempt at justifying taxation,...

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Dramatic Swing in Sentiment Extends the Greenback’s Rally

2023-02-17

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2023-02-17

Overview:  A series of strong US high-frequency data points after a poor finish to last year has spurred a dramatic shift in market expectations. And talk among a couple of (non-voting) FOMC members of a 50 bp hike has provided added fodder. The greenback is extending its recovery today against all the major currencies, with the Australian and New Zealand dollars hit the hardest. Emerging market currencies have also been knocked back. This is part...

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Hefty fines against Swiss pharma giants lifted

2023-02-17

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2023-02-17

An appeals court in France has overturned a record fine imposed by the French competition authority against the Swiss pharmaceutical companies Novartis and Roche.

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Joe Biden Calls for the FTC to Resurrect the Robinson Patman Act. It’s a Very Bad Idea

2023-02-17

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2023-02-17

As former Federal Trade Commission (FTC) chairman Timothy J. Muris has recently noted, “President Biden rejects the economics-driven antitrust policies of the past 40 years.” In contrast, President Joe Biden “promised to return to earlier antitrust traditions.” Unfortunately, “those traditions were abandoned for good reason: they harmed consumers.”

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Money versus Monetary Policy

2023-02-17

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2023-02-17

With all due respect to Niall Ferguson, whom I’ve heard of, and Huw van Steenis, whom I’ve not, this tweet is quite preposterous.  I’ve personally met more than five people who understand money just in my own circles.

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The Government Throws Money at Heart Disease, but Prevention Is Better than Cure

2023-02-16

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2023-02-16

Americans spend billions of dollars on treating heart disease. Prevention is cheaper, but thanks to perverse government incentives, preventing heart disease takes a backseat to medical spending. Original Article: "The Government Throws Money at Heart Disease, but Prevention Is Better than Cure" This Audio Mises Wire is generously sponsored by Christopher Condon.

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Meanwhile in Yemen, the US Government Supplies Weapons to Continue the Carnage

2023-02-16

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2023-02-16

Since 2014, the tiny country of Yemen has been devastated by the ongoing civil war following the Houthi takeover of the government. It only worsened in March 2015, when President Barack Obama began to aid the Saudi Arabians in the war effort. As of February 2022, over 370,000 people have lost their lives due to the lack of food, the lack of medical necessities, and the bombings from the war. Despite the severity of the war, the press has covered...

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Australia: The Nation Founded by British Convicts Embraced Entrepreneurship

2023-02-16

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2023-02-16

Australia is famous for its laid-back culture and for being founded by convicts from Great Britain. It also should be famous for its embrace of entrepreneurship. Original Article: "Australia: The Nation Founded by British Convicts Embraced Entrepreneurship" This Audio Mises Wire is generously sponsored by Christopher Condon.

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Markets Catch Collective Breath

2023-02-16

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2023-02-16

Overview:  On the heels of a dramatic jump in US job creation and firmer than expected year-over-year CPI, the US reported a larger than expected jump in retail sales and a strong recovery in manufacturing output. Few think that economic momentum that the recent data implies can be repeated, the "no landing" camp has gained adherents. We suspect that says more about psychology than the economy. The US two-year note is threatening to snap...

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2023-02-16 – Markus K. Brunnermeier to hold the 2023 Karl Brunner Distinguished Lecture

2023-02-16

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2023-02-16

The Swiss National Bank has named Markus K. Brunnermeier as the next speaker for its Karl Brunner Distinguished Lecture Series. Markus K. Brunnermeier is Professor of Economics at Princeton University and also Director of the Bendheim Center for Finance. His research focuses on the interaction between financial markets and the macroeconomy.

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Glencore sees earnings reach new highs in 2022

2023-02-16

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2023-02-16

Profits at Swiss mining and trading group Glencore last year were boosted by the explosion in commodity prices. Thanks to a more than threefold increase in net profit, the Zug-based giant wants to double its shareholders’ remuneration, in particular through a share buyback.

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Food and Shelter Prices Keep Climbing as CPI Growth Hits a Three-Month High

2023-02-16

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2023-02-16

The federal government’s Bureau of Labor Statistics (BLS) released new price inflation data today, and according to the report, price inflation during the month decelerated slightly, coming in at the lowest year-over-year increase in sixteen months.

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Capitalism Has Improved Life in India, but the Spirit of Collectivism Still Dominates

2023-02-16

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2023-02-16

India is currently the seventh-largest country in the world with the largest youth population. There are many elements that make this country unique, the foremost being diversity—diversity of culture, race, ethnicity, and linguistics. India faced an era of colonialism under the British, who would take raw material from India at cheaper rates and import the finished products.

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