The Mises Institute has worked for more than four decades to advance one purpose: the cause of economic freedom in academia and public life. The two comments on our work that I hear most often are: (1) you guys are doing a great job, and (2) it is not working.
If you’re into finance, you may have seen this chart:
Fed hiking cycles end in crisis - every time. The chart also illustrates that, since the 1980s, the Fed has been unable to achieve a Fed Funds Rate (FFR) at or above the peak of the preceding tightening cycle.
In the world of investing, there is a well-known concept referred to as the Rule of 72. It states that because of compound interest, 72 divided by your rate of return will always yield the number of years necessary to double your initial investment. The simplest math to do it with would be that it takes 10 years to double your investment at a 7.2% interest rate (72 / 7.2 = 10). However, below is an excel sheet drawing out the rule with rates of one through ten percent.
Rather than working diplomatically to resolve the civil war in Ukraine that it played a principal role in precipitating (by backing the unconstitutional transfer of power in that country in 2014), the Biden administration spent the months leading up to the Russian invasion in February assiduously working to make sure “extreme” economic sanctions could be put in place.
With a recession looming over the average American, the group to blame is pretty obvious, this group being the central bankers at the Federal Reserve, who inflate the supply of currency in the system, that currency being the dollar. This is what inflation is, the expansion of the money supply either through the printing press or adding zeros to a computer screen. It has gotten so bad that in the last twenty-two months, 80 percent of all US dollars in existence have been printed, from $4 trillion in January 2020, to $20 trillion in October 2021.
The overturning of Roe v. Wade is a historic decision, upholding the highest principle of a republic. A republic is born through freedom of association in the same manner as individuals band together to form a family, families band together to make a community, and communities band together to make a society.
On June 19, 2022, geopolitical analyst Ian Bremmer posted the following on Twitter:
us: left govt, high inflation
uk: right govt, high inflation
germany: centrist govt, high inflation
italy: everyone in govt, high inflation
wild guess it’s not the govt
— ian bremmer (@ianbremmer) June 19, 2022
In a follow-up tweet the next day, Bremmer wrote:
When Murray Rothbard and Lew Rockwell defined the paleolibertarian doctrine, they simply wanted to break the clock of social democracy and repeal the twentieth century, during which some of the greatest horrors in history were created from the deranged ideas of power-hungry nineteenth-century intellectuals by applying these ideas with the full might of the state, costing millions of human lives and the complete degeneration of the social and economic order.
In his June 21 New York Times article “Is the Era of Cheap Money Over?,” Paul Krugman argues against the view that the Fed has kept interest rates artificially low for the past ten to twenty years. Other commentators have argued that these low interest rates have inflated bubbles everywhere as investors desperately look for something that will yield a decent rate of return.
The Igbos are one of the largest ethnic groups in Nigeria and are celebrated for their successes in entrepreneurship and academia. The Igbos’ success extends outside the borders of Nigeria and cannot be considered a fluke.
