According to the most recent report on consumer prices, published at the Statistics Bureau of Japan, consumer prices rose 3.4 percent, year over year, in May. That’s down slightly from April’s 12-month increase of 3.6 percent, and it’s up solidly from May 2024’s increase of 2.9 percent.
One of the main draws of the Austrian School of economics, at least for me, is that all its insights are grounded in real happenings; the school’s entire body of economic literature is meant to explain tangible things that actually happen. Whereas other schools of economics focus on some ethereal monolith known as “the economy”—a mystical being whose forces and wiles can only be divined through Cartesian coordinate planes—the Austrians study the discrete actions taken by living people that form the economy.
As US debt soars and foreign central banks stockpile gold, four members of Congress today introduced a bill to require the first comprehensive audit of America’s gold reserves in decades.
