Category Archive: 6b.) Mises.org

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The Trillion-Dollar Coin Idea Is Just Another Way to Rip Us Off

2023-01-21

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2023-01-21

Here we go again. Every few years in Congress there is a purely political battle over the debt ceiling. We're supposed to be horrified and worried that the US might default on some of its debt. Some commentators will insist the US has never defaulted, and that default be a disaster.

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Fiat Money Inflation Not Only Raises Prices but Also Undermines Division of Labor

2023-01-20

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2023-01-20

The line for the self-checkout registers at my neighborhood Albertsons stretched into the store’s produce section. Is this human progress? I wondered, scanning my groceries—this just after I had filled my car’s gas tank at a not-so-convenient convenience store near work.

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Why the Fed Is Bankrupt and Why That Means More Inflation

2023-01-19

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2023-01-19

In 2011, the Federal Reserve invented new accounting methods for itself so that it could never legally go bankrupt. As explained by Robert Murphy, the Federal Reserve redefined its losses so as to ensure its balance sheet never shows insolvency.

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The Rise and Fall of Good Money: A Tale of the Market and the State

2023-01-19

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2023-01-19

Ludwig von Mises's book The Theory of Money and Credit is a masterwork of monetary theory. Despite being written in the early twentieth century, its arguments and conclusions are still valid and interesting today. Mises describes five characteristics that are vital to the function of money: marketability, durability, fungibility, trustworthiness, and convenience.

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The Fed Is a Purely Political Institution, and It’s Definitely Not a Bank.

2023-01-18

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2023-01-18

Those who know Wall Street lore sometimes recall that Fed chairman William Miller—Paul Volcker’s immediate predecessor—joked that most Americans believed the Federal Reserve was either an Indian reservation, a wildlife preserve, or a brand of whiskey. The Fed, of course, is none of those things, but there’s also one other thing the Federal Reserve is not: an actual bank. It is simply a government agency that does bank-like things.

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Australia: The Nation Founded by British Convicts Embraced Entrepreneurship

2023-01-17

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2023-01-17

Australia’s superb performance on measures of international development has earned her the admiration of many. Few countries can boast such stellar achievements in economic and social affairs. Currently, Australia has the highest median wealth per adult in the world and outperforms the Organisation for Economic Co-operation and Development (OECD) average in civic engagement, health, education, and other dimensions of well-being.

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The Politicization of Procreation: The Ultimate in “the Personal Is Political”

2023-01-17

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2023-01-17

In the ultimate example of “the personal is political,” families form, break up, or expand due to US presidential elections according to a recent article in the American Economic Review. Apparently, the alternative responses of doom or elation that occasions electoral politics is so extreme that the losers couldn’t bear to bring a child into such a world, while the winners . . . well, you know.

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Real Wages Fall for the Twenty-First Month as Rent and Food Prices Keep Rising

2023-01-16

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2023-01-16

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 fifteen months. 

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The Great Depression’s Patsy

2023-01-15

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2023-01-15

The culprit responsible for the Wall Street crash of 1929 and the Great Depression can be easily identified—the government. To protect fractional reserve banking and generate a buyer for its debt, the US government created the Federal Reserve System in 1913 and put it in charge of the money supply.

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

2023-01-14

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2023-01-14

You’re more likely to die of heart disease than anything else, partly because, well, if nothing else gets you, your heart will give out. And a heart attack could cost you upwards of $760,000 these days, when you consider hospital charges, prescription drugs, additional care for the rest of your life, and then indirect costs like loss of time at work.

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The Chimera of a Postpandemic Postwar Return to Monetary Normal

2023-01-13

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2023-01-13

The monetary regime in power now—the so-called 2 percent inflation standard—is promising us a “return to normal” after the great pandemic and war inflation of 2021–22. At this time of powerful propaganda—the dismal accompaniment of natural disaster and war—we should be on our guard against such messaging.

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Micronations in International Law: How US Policy Could Improve the Fortunes of Upstart Libertarian Countries

2023-01-11

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2023-01-11

After years spent toiling as an activist against the tide of Czech politics, Vít Jedlička concluded that it would be easier to build a libertarian nation from scratch somewhere else. In April 2015, he declared that a new country called the Free Republic of Liberland would be founded on unclaimed land on the Danube River.

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The Senator Who Didn’t Know (but Thought She Did)

2023-01-11

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2023-01-11

Legislators have a strange relationship with magic. To achieve that which physically cannot be done, they like to wave magic wands and pretend that it can. Reality puts a limit on political power, a realization that always sits poorly with those in charge of our trillion-dollar bureaucratic machinery.

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America, Brazil, and the Illegitimacy of Weaponized Democracy

2023-01-11

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2023-01-11

In recent years, it has become popular in parts of conservative discourse to discuss the “Brazilianization of America,” a reference to the challenges a large country faces in governing an increasingly multicultural “universal nation.” But this weekend, it was the Americanization of Brazilian politics that took center stage as pro-Bolsonaro forces rose up in aggressive protest against the newly inaugurated Lula regime, in a move reminiscent of what...

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The Constitution Failed. It Secured Neither Peace nor Freedom.

2023-01-11

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2023-01-11

If one cares to look, it's not difficult to find numerous columns written for mainstream news outlets announcing that the US Constitution has failed. This ought to raise the question of "failed to do what?" The answer depends largely on the one claiming the constitution has failed.

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Keegan and Bale retire, Andy Moran & Colm Boyle, John Hartson, Sarah Rowe | Tuesday’s OTB AM

2023-01-10

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Remember that time Lee Keegan & Gareth Bale retired on the same day? Ger & Shane are responding in kind with a jam-packed show on Tuesday’s #OTBAM Here’s what’s coming up today: 7:30: Kickoff with Ger, Shane & Kathleen 7:50: Lee Keegan’s Top 5 Moments w/Cameron Hill 8:05: John Hartson 8:20: Colm Boyle & Andy Moran 8:50: John Duggan 8:50: Sarah Rowe 9:10: Sam Mulroy 9:30: James Horan @GilletteVideosUK | #EffortlessFlow...

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LEE KEEGAN RETIREMENT: Mayo legends Andy Moran & Colm Boyle pay tribute

2023-01-10

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Mayo legends Andy Moran & Colm Boyle join Ger & Shane on #OTBAM after Lee Keegan called time on a glittering career for the Green and Red @GilletteVideosUK | #EffortlessFlow Have you downloaded the OTB App? - Search for OTB Sports in the Google Play store: https://play.google.com/store/apps/de... - Search for OTB Sports in the app store if you're on iOs: https://apps.apple.com/ie/app/otb-spo... SUBSCRIBE to the Off The Ball...

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Why Economic Stimulus Can’t Work

2023-01-10

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2023-01-10

President Barack Obama returned from the 2010 G20 Summit held in Toronto having failed to convince world leaders that more “economic stimulus” was needed to cure what ails the world’s economies. Walking a seeming tightrope between too much spending and spiraling deficits, on the one hand, and too little spending and economic recession, on the other, world leaders reluctantly agreed to err on the side of fiscal and monetary caution and to halve...

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The Present Fiat Monetary System Is Breaking Down

2023-01-09

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2023-01-09

The heart of economic growth is an expanding subsistence fund, or the pool of real savings. This pool, which is composed of final consumer goods, sustains individuals in the various stages of the production process. The increase in the pool of real savings permits the expansion and the enhancement of the infrastructure, and this strengthens economic growth.

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Columbus Head Coach Andrew Moran goes in depth about the game plan vs Camden

2023-01-06

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