With negative growth now dipping below –5 percent, money-supply contraction is approaching the biggest declines we've seen in the past thirty-five years.
We're still living with the consequences of the massive monetary inflation by Trump and Biden. Prices are stubbornly high, and falling real wages are driving Americans to say things are getting worse.
When the Soviet Union collapsed more than thirty years ago, US and European political elites sought to isolate and threaten Russia. The result has been war, destruction, and death, none of it necessary.
The fact the money supply is actually shrinking serves as just one more indicator that the so-called soft landing promised by the Federal Reserve is unlikely to be a reality.
Money laundering is illegal in the USA, but like so many other federal crimes, it is difficult to identify and define. That is the perfect recipe for government abuse of innocent people.
Money supply growth slowed even more in October, and is now back to levels we last saw during the repo liquidity crunch of 2019, and in the days right before the 2007–09 recession.
After praising Mises for his work on socialism, Tyler Cowen goes on to claim Human Action is "cranky and dogmatic." "Brilliant and insightful" would have been more truthful.
