Prediction markets are all the rage, as their soaring activity and cultural impact clash with growing regulatory resistance and accusations of blatant manipulation.

The problem reaches beyond subsidies, mandates and regulation, writes Murray Sabrin in the WSJ.

Politicians say they can “fix” the economy. But economists Friedrich Hayek and Ludwig von Mises pointed out how government “fixes” lead to bigger problems. 

Mises Institute Editor-in-Chief Ryan McMaken is interviewed by John Stossel for this interview about what we can learn from Mises and Hayek.

Dictator Mohammed bin Salman has convinced Trump to help the anti-Christian, absolutist Saudi dictatorship “remake the Middle East.”

Critics of markets often argue that capitalism systematically fails consumers. Firms collude, corporations exploit their power, and powerful companies crush competitors. But there is a curious pattern in these critiques: regardless of what actually happens in the marketplace, the outcome is treated as proof that markets are broken.

To many liberals, the notion of individualism stands in opposition to nationalism, and in favor of globalism. As the New York Times expresses it, individualism “promotes a more universalist outlook. In focusing on individual rights and welfare, it reduces the emphasis on groups – and the differences between ‘us’ and ‘them’ that notoriously erode generosity toward those outside one’s own circle.”

Today, the mortgage interest rate on a 30-year fixed mortgage is 6.47%, remaining near a 3-month high as Iran-war uncertainty weighs on bonds. 

Fuelling at individual service stations has been restricted to 50 litres per day for private vehicles and 200 litres for companies and other priority users such as farmers.

“The U.S. government is insolvent. That’s not hyperbole — it’s the conclusion drawn directly from the Treasury Department’s own consolidated financial statements.”