Category Archive: 6b) Austrian Economics

The conditions have now aligned for a repeat of the major stock market crashes that have occurred since the founding of the US Federal Reserve Bank (Fed) in 1913. Considering their vast experience and resources, the Fed has to know that their plan to control inflation by raising interest rates rapidly and significantly since 2022, and also tightening credit this year, will likely result in another major crash. Although the Fed has issued vague...

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As a banker and economist, I am riveted by the expeditious demise of Silicon Valley Bank and other institutions. Were these crashes due to bank mismanagement, as many pundits as well as regulators have posited? Were they due to not managing risk, not hedging, and unfettered exposure to sectors of concern? Or maybe something else is afoot, a movement that may have begun a decade ago. Recall the Great Recession (2008–10), buoyed by a housing and...

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Governments worldwide are trying to replace cash with CBDCs, and people worldwide are starting to wake up, but we need a lot more. A CBDC is a government-run crypto-token that replaces the national currency with a tracking ledger—a list of who owns what—that lets government surveil, control, and mandate every dollar you spend.  They could prevent you from buying the wrong thing, whether raw milk or gas stoves, or self-defense. They could stop you...

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The last Group of Seven (G7) summit that took place May 19–21, 2023, in Hiroshima deserves attention because it exposes the latest Western attempt to impose its unipolar worldview. But first, a bit of background on the G7. The G7 is the group of seven nations (USA, Japan, France, Germany, Italy, Canada, and the United Kingdom) that in the ’70s comprised the major industrialized countries of the capitalist world. But because of the enrichment of a...

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In his just-published book Regime Change: Toward a Postliberal Future (Sentinel, 2023), the political theorist Patrick J. Deneen indicts modern liberalism, in which he includes both classical liberalism and progressive liberalism. One of his main charges against liberalism is that it rejects the view, taught both by Christianity and classical political philosophy, that true liberty consists of virtuous conduct. In this view, people must hold their...

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Argentina makes press headlines worldwide and tops the inflation world rankings. People are becoming desperate—living in Argentina is extremely tough—and people are beginning to immigrate to foreign countries. The Argentinian peso is, to the world and the Argentinian citizens, a relentless zombie, rejected by the people but supported by the government, which is desperate to snatch whatever money people have left in their pockets. To develop this...

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