Forget Vegas sports betting for reckless speculation. When the Fed officials make projections, the markets assume they are accurate. However, as Jerome Powell himself admits, forecasts are speculative at best.
On yet another crusade, US authorities have sanctioned Chinese cotton imports. The sanctions won't change Chinese policies but they will create hardships for many.
One of the canards of mainstream economics is that only government can provide the "optimum" number of nonrivalrous, or public, goods. Austrian economists have never accepted that theory.
The common belief is that inflation is the general rise in consumer prices. However, rising prices are a symptom of inflation, which really is expansion of the money supply.
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While supporters of fractional reserve banking claim banks inform depositors that they are really lenders (and banks are borrowers), a survey of the fine print yields says otherwise.
Javier Milei has promised to make the US dollar Argentina's currency if he is elected. Whether it will help the Argentine economy is another matter.
With the creation of the Federal Reserve in 1913, the American people began their new "partnership" with the federal government. The results were wars, inflation, and currency debasement.
Although there has been excitement and fanfare over the recent BRICS meetings and proclamations, it is doubtful that these economies’ performance can match their rhetoric.
