Monthly Archive: May 2025
COVID ZIRP Triggers ABCT in LV Industrial RE
The Zero Interest Rate Policy (ZIRP) implemented by central banks during covid continues to provide real world examples of the Austrian Business Cycle Theory (ABCT).
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Take the Deal, President Trump
Deal-making is said to be President Trump’s specialty, yet after five rounds of indirect talks with Iran – most recently just days ago – we seem as far away from an agreement as ever.
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The Cultural Consequences of Inflation
It is easy to think of inflation as just being economic in scope. Yet, as inflation becomes an expected part of the body politic, it affects the culture as well, encouraging everyone to try to live beyond their means.
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US Trade Court Roils Markets: Trump Administration to Appeal
Overview: There is one driver today. The US Court of International Trade ruled against the Trump administration's "Liberation Day" tariffs. The court rules that the 1977 law used to justify the actions did not apply. The ruling also applies to the earlier tariffs on security of the US borders and fentanyl trafficking. The dollar initially …
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Demand is rising for credit default swaps on US govt debt
As debt piles up, the cost of insuring exposure to U.S. government debt has been rising steadily.
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Consumers Are Not As Gloomy
The Conference Board’s consumer confidence index surged from 85.7 to 98.0. Such was the largest one-month increase since 2009! Clearly, progress on trade deals and the delay in implementing tariffs spurred the increase. Moreover, the recovering stock market also boosted consumer confidence. However, bear in mind that the index is coming off its lowest level …
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Poland’s Turn Toward a Market Economy Saved It from Poverty
Polish professor of political theory Łukasz Dominiak joins us to talk about how Poland embraced a market economy after the Cold War ended. We discuss some of the factors behind Poland's rise from poverty.
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The American-Israeli Nineteenth-Century Ways of War
This brief historical sketch brings us to how the American and Israeli militaries of today have adopted a nineteenth-century-style war of extermination against what they consider to be another “lesser race.”
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US court blocks Trump from imposing the bulk of his tariffs
MAGA wants a single man to be able to raise taxes without any checks on this power. Fortunately, the courts disagreed.
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The Great Taking!
Interview with James Patrick, TheGreatTakingReport.com
As many of my clients, friends and regular readers know well, I’ve spent the better part of the last decade criticizing all the great evils and trespasses of the State and its crony capitalist accomplices. I’ve written extensive analyses and gave many speeches warning fellow citizens about the dangers that lie in government power grabs and authoritarian transgressions. The most important of...
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Ludwig von Mises on Peace and Social Cooperation
The free market replaces the struggle for survival found in the animal world with social cooperation in which everybody benefits. Capitalism is a system of peace, not war.
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The American-Israeli Nineteenth-Century Ways of War
This brief historical sketch brings us to how the American and Israeli militaries of today have adopted a nineteenth-century-style war of extermination against what they consider to be another “lesser race.”
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Why Ending the War in Ukraine Is So Difficult Now
Members of the establishment are trying to seize on Trump’s recent frustrations with Putin to act like they’ve been right all along that the Russian president cannot be reasoned with. In truth, the difficult situation Trump finds himself in is almost entirely their fault.
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The Real Israel vs. Hasbara History
Israel’s televised genocide has corroborated the reality of the Palestinians; their reasons for rage and their rights to resistance and recompense.
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Did the Fed Achieve Independence During the Korean War?
Rumor has it that the Federal Reserve was able to resist the president‘s demands to enable funding of the Korean War. However, a look at the record demonstrates conclusively that the Fed bowed to Harry Truman‘s wishes to do what it has done for a century: finance America‘s wars.
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Consumer Confidence Dollar Boost Fades
Overview: The US dollar is mostly softer today against the G10 currencies. Ironically, the New Zealand dollar is the strongest following the widely expected quarter-point cut by the central bank. The Canadian dollar is the laggard, the only G10 currency not to have found traction against the greenback. Most emerging market currencies are also enjoying …
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TACO means “Trump Always Chickens Out”
Markets are figuring out that Trump's tariff "negotiations" are just political theater, with no real end game or plan.
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Why Ending the War in Ukraine Is So Difficult Now
Establishment figures erroneously claim Trump’s recent frustrations with Putin prove them right—that Putin can’t be reasoned with.
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Narratives vs. Fundamentals: Battle In The Bond Market
On January 8, 2025, we answered many of your questions with an article entitled Why Are Bond Yields Rising? Since then, bond yields initially fell but have recently risen back to early January levels. Unsurprisingly, our email boxes are again filled with the same questions we got in early January. This article presents a different …
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FOMC Minutes: risk of price inflation and joblessness is rising
U.S. Federal Reserve officials at their last meeting acknowledged they could face "difficult tradeoffs."
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