While Congress and the president fight over funding a border wall, they continue to ignore the coming economic tsunami caused by the approximately 22 trillion dollars (and rapidly increasing) federal debt. President Trump may not be troubled by the debt’s effect on the economy because he believes he will be out of office before it becomes a major
You don’t need to be a supporter of President Trump to be concerned about the efforts to remove him from office. Last week House Speaker Nancy Pelosi announced impeachment proceedings against the President over a phone call made to the President of Ukraine. According to the White House record of the call, the President asked his Ukrainian
During my presidential campaigns, well-meaning supporters would sometimes suggest I stop emphasizing opposition to overseas intervention and focus on fiscal issues. I disregarded the advice, not only because adopting a noninterventionist foreign policy is crucial to restoring constitutional government but because it is impossible to be both a
The Federal Reserve, responding to concerns about the economy and the stock market, and perhaps to criticisms by President Trump, recently changed course on interest rates by cutting its “benchmark” rate from 2.25 percent to two percent. President Trump responded to the cut in already historically-low rates by attacking the Fed for not committing
When the New York Federal Reserve began pumping billions of dollars a day into the repurchasing (repo) markets (the market banks use to make short-term loans to each other) in September, they said this would only be necessary for a few weeks. Yet, last Wednesday, almost two months after the Fed’s initial intervention, the New York Federal Reserve
The 50-year US war on drugs has been a total failure, with hundreds of billions of dollars flushed down the drain and our civil liberties whittled away fighting a war that cannot be won. The 20 year “war on terror” has likewise been a gigantic US government disaster: hundreds of billions wasted, civil liberties scorched, and a world far more
Stocks fell last week following news that the yield curve on Treasury notes had inverted. This means that a short-term Treasury note was paying higher interest rates than long-term Treasury note. An inverted yield curve is widely seen as a sign of an impending recession. Some economic commentators reacted to the inverted yield curve by parroting
The US Constitution never granted the federal government authority to create a central bank. The Founders, having lived through hyperinflation themselves, understood that government should never have a printing press at its disposal. But from the very beginning of America’s founding, the desire for a crony central bank was strong. In fact, two
La frustración del presidente Trump con los aumentos de la tasa de interés (minúsculos) de la Reserva Federal que culpa por la desaceleración del mercado bursátil le ha llevado a preguntar si tiene la autoridad para destituir al presidente de la Reserva Federal, Jerome Powell. El presidente Powell ha declarado que no cumpliría con una solicitud
El Congreso, y en particular la Cámara de Representantes controlada por los demócratas, parece decidido a ver el fin de la Administración Trump antes de la votación de 2020. Aunque la presidenta de la Cámara de Representantes, Pelosi, afirma que no está buscando un juicio político, está acusando al presidente de «encubrir» algo. Sin embargo, no
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.