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No, the Brazilian Government Should Not Subsidize Carnival Festivities

Author: Marina Rocha
Categories: 6b.) Mises.org

Approximately forty-nine million people joined Brazil’s carnival festivities this year, spanning five days from February 9 to 13. Originally Catholic, the holiday has evolved to have numerous parades, known as “blocos” in Portuguese. Like other major events such as the Super Bowl, there’s consistent pressure for public funding. The Brazilian government, known for its history of high public spending, regularly subsidizes carnival parties through various channels including direct funds, tax reductions, and advertising budgets.Advocates argue that these subsidies serve as investments, stimulating the economy and generating future tax revenue. Just as once stated by the former minister of culture, these advocates claim that increased consumption during the carnival season boosts profits for

Foreign Aid and the Politicization of Economic Life

Author: Wanjiru Njoya
Categories: 6b.) Mises.org

The conservative government in the United Kingdom champions the view that giving more foreign aid to developing countries will fuel economic growth that, as a bonus, will help to resolve the ongoing migration crisis. The international development minister has explained the government’s reasoning, namely that “giving development aid to countries was morally ‘the right to do,’ but a core argument should also be that it prevented refugees and migrants heading to Britain.”The government’s hope is that sending foreign aid to the Third World will discourage economic migration to the West. Under pressure to stem the flow of refugees and asylum seekers attracted by the UK’s generous welfare state, the Home Secretary has duly come up with a plan to “stop the flight of capital and workers, by

Waller Pushes on Open Door: Push for Patience Lifts the Dollar, Complicating Japanese Efforts

Waller Pushes on Open Door: Push for Patience Lifts the Dollar, Complicating Japanese Efforts
Author: Marc Chandler
Categories: 4.) Marc to Market, 4) FX Trends

Overview: Comments by Fed Governor Waller, urging
patience on rates and wanting more evidence that price pressures are moderating
has helped the greenback extend its recent gains. The yen is the notable
exception as the fear of intervention has restrained the dollar bulls. Poor
German data, including a sharp 1.9% drop in February retail sales, the fourth
consecutive monthly decline, underscored the euro's negative divergence, and the
single currency was sold to new lows for the month below $1.0780. The
Antipodeans and Scandis are leading the G10 currencies lower with 0.6%-0.8%
losses. Emerging market currencies are mostly lower. The South Korean won, and
Taiwanese dollar are exceptions with miniscule gains. Equities in the Asia Pacific region are
mixed. Japan, South Korea, and Taiwan

Big Agriculture Protectionism led to the Amos Miller Raids

Author: David Brady, Jr.
Categories: 6b.) Mises.org

The raid on an Amish family farm is the direct result of government protectionism of big agriculture through needless and cumbersome regulations.Amos Miller is an Amish farmer in Pennsylvania who has become a thorn in the side of the State of Pennsylvania and the federal government for his selling of raw milk and other unregulated products. Miller first came to the attention of the Food and Drug Administration in 2016 when they claimed his milk was linked to several cases of listeria bacteria causing listeriosis in individuals who drank raw milk. Their dispute continued until 2023, when Miller was forced to pay out $30,000 and continue to pay out $305,000 in fees levied by a judge following federal lawsuits.Conflict has resumed as the Pennsylvania attorney general announced it would be

Big Agriculture's Protectionism Targets the Amish

Author: David Brady, Jr.
Categories: 6b.) Mises.org

The raid on an Amish family farm is the direct result of government protectionism of big agriculture through needless and cumbersome regulations.Amos Miller is an Amish farmer in Pennsylvania who has become a thorn in the side of the State of Pennsylvania and the federal government for his selling of raw milk and other unregulated products. Miller first came to the attention of the Food and Drug Administration in 2016 when they claimed his milk was linked to several cases of listeria bacteria causing listeriosis in individuals who drank raw milk. Their dispute continued until 2023, when Miller was forced to pay out $30,000 and continue to pay out $305,000 in fees levied by a judge following federal lawsuits.Conflict has resumed as the Pennsylvania attorney general announced it would be

Who Will Take Care of the Roads? Why, The Coercive, Substandard, and Monopolistic Government Department, That’s Who

Who Will Take Care of the Roads? Why, The Coercive, Substandard, and Monopolistic Government Department, That’s Who
Author: Karl Streitel
Categories: 6b.) Mises.org

Tu ne cede malis, sed contra audentior ito

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The Tyranny of the 1964 Civil Rights Act

Author: Wanjiru Njoya
Categories: 6b.) Mises.org

New York City’s government has imposed draconian rent controls. The natural outcome, as economists note, has been massive shortages, as apartment owners no longer have an incentive to rent empty apartments.Original Article: The Tyranny of the 1964 Civil Rights Act

Boeing's Problems Are Not Due to Free Markets

Author: Connor O'Keeffe
Categories: 6b.) Mises.org

On Monday, Boeing CEO Dave Calhoun announced he will step down at the end of the year. The news comes months after a door plug blew out midflight on a Boeing 737 flying from Oregon to California. The incident gained national attention, subjecting the manufacturer to bad press and up to $4.5 billion of economic losses so far.When incidents as serious as this happen, the public is rarely satisfied with the label of “accident.” People want accountability for those responsible and the proper changes made to prevent similar emergencies from happening again.Accountability is relatively straightforward. Investigations determine how an incident happened and who is responsible. Then, depending on the nature of the actions and the extent of the resulting damage, offenders can be disciplined, fired,

Heightened Threat of Japanese Intervention Pushes Greenback Away from JPY152

Heightened Threat of Japanese Intervention Pushes Greenback Away from JPY152
Author: Marc Chandler
Categories: 4.) Marc to Market, 4) FX Trends

Overview: The dollar neared JPY152, setting a new
34-year high. This appeared to spur a senior official meeting in Tokyo,
ostensibly to talk about the response. Previously, we suggested that Friday,
when most markets outside of Asia will be closed, could provide an interesting
opportunity for intervention. The implicit threat was enough to take the dollar
to JPY151.10 in the European morning. Most of the G10 currencies are softer
against the dollar but the yen. A dovish Riksbank had negligible impact on the
Swedish krona. It could be the second G10 central bank to cut rates, following
last week's Swiss decision. It may move in May. Most emerging market currencies
are softer today. The South African rand is the strongest, up by about 0.3%
before the central bank announcement, which is

The West Is Losing Interest in Ukrainian Victory

Author: Ryan McMaken, Zachary Yost
Categories: 6b.) Mises.org

Many signs are now emerging that NATO and the West are slowly withdrawing support from Ukraine in its war with Russia. How much longer can the war continue? Recommended Reading"Intercept of German generals planning Taurus strike on Crimean bridge": Mises.org/WES_19_A"Army aims to double 155mm shell production by October" by Sam Skove Mises.org/WES_19_B"The deception behind America’s support for Ukraine" by Malcom Kyeyune: Mises.org/WES_19_C"Draft-dodging plagues Ukraine as Kyiv faces acute soldier shortage" by Jamie Dettmer: Mises.org/WES_19_DRemarks by Jake Sullivan and Andriy Yermak in Press Conference: Mises.org/WES_19_E"Biden's adviser did not mention regaining territories when talking about conditions for Ukraine's victory": Mises.org/WES_19_FBe sure to follow War,