Category Archive: 6b.) Mises.org

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The Fed Backtracks on Future Rate Hikes as Bank Failures Loom Large

2023-03-23

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2023-03-23

The Federal Reserve’s Federal Open Market Committee (FOMC) on Wednesday raised the target policy interest rate (the federal funds rate) to 5.00 percent, an increase of 25 basis points. With this latest increase, the target has increased 4.75 percent since February 2022. However, with an increase of only 25 basis points, the March meeting is the second month in a row during which the Fed has pulled back from its more substantial rate hikes of 2022....

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Whither Goest the Entrepreneur

2023-03-22

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2023-03-22

The Ludwig von Mises Memorial Lecture, sponsored by Yousif Almoayyed. Recorded at the 2023 Austrian Economics Research Conference hosted at the Mises Institute in Auburn, Alabama, March 16–18, 2023. [embedded content] The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian School, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. The...

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The Other Covid Crisis: Prospects for Recovery from Pandemic Policies

2023-03-22

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2023-03-22

The F.A. Hayek Memorial Lecture, sponsored by Greg and Joy Morin. Recorded at the 2023 Austrian Economics Research Conference hosted at the Mises Institute in Auburn, Alabama, March 16–18, 2023. [embedded content] The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian School, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. The...

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Looming Bank Failures Point to More Price Inflation as Real Wages Fall Again

2023-03-22

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2023-03-22

Even if Powell is sincere in this stated desire to slay inflation with more rate hikes, recent bank failures will put the Fed under enormous pressure to end its rate hikes and to once again embrace easy money to save the banks and Wall Street.  Original Article: "Looming Bank Failures Point to More Price Inflation as Real Wages Fall Again" This Audio Mises Wire is generously sponsored by Christopher Condon.

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Did Colonialism Impoverish Africa and Asia? Perhaps Not

2023-03-22

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2023-03-22

Revisiting the legacies of colonialism to indict Western imperialism has become a fashionable pastime for leading academics. Many argue that colonialism erected permanent roadblocks to thwart the progress of ex-colonies. Western colonialism is so vilified that any attempt to present a balanced overview is deemed improper. Bruce Gilley’s controversial essay, “The Case for Colonialism,” spawned a firestorm of criticisms that led the journal, Third...

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Mises Club Carolinas

2023-03-22

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2023-03-22

Escape the summer heat for a cool weekend in the beautiful mountains of Banner Elk, NC. Tentative plans are to meet for dinner on Friday, July 21 at the Sugar Mountain Ski Resort. Guest speakers will be Franklin Sanders and his son, Justin, who will discuss their decades long effort to protect the precious metal trading industry from government intervention. Saturday, July 22 will begin with breakfast with the owners of Sugar Mountain while they...

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Mises Club Carolinas

2023-03-22

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2023-03-22

Join Mises Club Carolinas for their next meetup in Fort Mill, SC, on Saturday, April 22. We'll tour Southpoint Solutions, and industrial lighting company from Club Member Jared Wall. After the tour, we'll have dinner and discussion at Farmhaus Butcher and Beer Garden. The speaker will be a new Club Member, Trey Carson, owner of Happy Mining, a bitcoin mining company in central North Carolina.  For more information or to register for this event,...

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The Theory and Practice of Conspiracy

2023-03-22

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2023-03-22

Collusion was a way of life with state-chartered enterprises. Little has changed, as firms with political connections still gain profits from their collusion with the state. Original Article: "The Theory and Practice of Conspiracy" This Audio Mises Wire is generously sponsored by Christopher Condon.

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The Outbreak of World War I: A Libertarian Realist Rebuttal

2023-03-22

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2023-03-22

As you may have noticed, those dreaded “forces” seem to have rematerialized—in the headlines, in the journals, in the pages of bestsellers: those historical, material, political, or ideological forces that supposedly make conflict between some set of groups, classes, or states “inevitable.” But as the great libertarian historian Ralph Raico never tired of telling, such collectivist narratives are often little more than convenient scapegoats or...

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A Bank Crisis Was Predictable. Was the Fed Lying or Blind?

2023-03-21

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2023-03-21

Welcome to Whose Economy Is It, Anyway?, where the rules are made up and the dollars don’t matter. Or at least that seems to be the view of the Yellen regime. Original Article: "A Bank Crisis Was Predictable. Was the Fed Lying or Blind?" This Audio Mises Wire is generously sponsored by Christopher Condon.

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Are Bank Failures a Sign of More Trouble Ahead?

2023-03-21

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2023-03-21

The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVB’s collapse, Signature Bank joined the record books as the third largest bank failure in US history. First Republic Bank also seemed on the edge of collapse until Bank of America, Citigroup, and other big banks agreed to jointly fund a bailout for it. Major Swiss bank Credit Suisse was also teetering on the brink when...

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American Dissident: The Legacy of Murray Rothbard

2023-03-21

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2023-03-21

Murray Newton Rothbard, perhaps the greatest enemy of the state in the second half of the twentieth century, would have recently celebrated his ninety-seventh birthday had he lived. Men are not salmon, those unique creatures that swim against the current. Most people “go with the flow” and allow the pace of events to dictate their lives, at least in that few consciously choose to reject the current order of things, declare it to be profoundly...

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Yes, the Latest Bank Bailout Is Really a Bailout, and You Are Paying for It.

2023-03-21

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2023-03-21

The Fed is launching a new billionaire bailout designed to keep banks afloat, and the FDIC is promising to back potentially trillions in deposits. The taxpayer will ultimately be on the hook.  Original Article: "Yes, the Latest Bank Bailout Is Really a Bailout, and You Are Paying for It." This Audio Mises Wire is generously sponsored by Christopher Condon.

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Why Governments Waste Resources: The Case of Newfoundland’s Joseph R. Smallwood

2023-03-21

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2023-03-21

A key principle in understanding Austrian economics is seeing the inefficiency of government spending. In an era of overbearing states and reckless fiscal policy, this principle must be emphasized repeatedly. Politicians might claim the best of intentions when dishing out funds for military defense, social welfare, and public works. Their civil servants might try to realize these plans efficiently and thriftily. However, the very nature of...

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Government Is as Government Does

2023-03-20

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2023-03-20

If we have learned anything from hundreds of years of government oppression and atrocities, one thing is certain: government isn't our friend. Original Article: "Government Is as Government Does" This Audio Mises Wire is generously sponsored by Christopher Condon.

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Donald Trump Is Wrong about Tariffs and Mercantilism

2023-03-20

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2023-03-20

During the past few weeks, Donald Trump has been releasing some of his proposals if he were to win the election in 2024. While many of his positions pose great danger to personal liberty, such as his plan to “end crime and keep Americans safe,” his proposals on tariffs are up there in terms of ignorance. In a video posted on February 27, Donald Trump released his plan to “end our reliance on China.” In the short video, Trump claims that his plan...

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The Phillips Curve Is an Economic Fable

2023-03-20

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2023-03-20

Keynesians and fellow travelers hold the Phillips curve to be sacrosanct. But because the Phillips curve cannot establish causality, it is useless as economic theory. Original Article: "The Phillips Curve Is an Economic Fable" This Audio Mises Wire is generously sponsored by Christopher Condon.

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It Turns Out That Hundreds of Banks Are at Risk

2023-03-20

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2023-03-20

It’s the weekend, but our fresh Financial Crisis does not sleep. And a recent study says we’ve only seen the tip of the iceberg. The Washington Post yesterday wrote: “If banks were suddenly forced to liquidate their bond and loan portfolios, the losses would erase up to 91 percent of their combined capital cushion.” In other words, we were already right up against the edge. The Post cites two studies that total unrealized losses in the system are...

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Socialism Isn’t about Creating Economies. It Is about Amassing Political Power

2023-03-20

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2023-03-20

Ludwig von Mises wrote Socialism: An Economic and Sociological Analysis, a small book published in 1922, which demonstrated that economic calculation in a socialist commonwealth is impossible. Of course, Mises assumed that the purpose of an economy, even a socialist one, was supposed to produce goods and services, which determined its success or failure. Alain Besançon wasn’t an Austrian or a Misesian, but he wrote Anatomie d’un spectre: l’Économie...

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How Easy Money Killed Silicon Valley Bank

2023-03-19

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2023-03-19

The incredible growth and success of SVB could not have happened without negative rates, ultra-loose monetary policy, and the tech bubble that burst in 2022. Original Article: "How Easy Money Killed Silicon Valley Bank" This Audio Mises Wire is generously sponsored by Christopher Condon.

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