Last week the House passed legislation increasing the debt ceiling. The bill was supported by all but four Republicans. For some Republicans, this was the first time they had ever voted for a debt ceiling increase. Perhaps the reason they did so this time was because the legislation also promised to reduce federal spending by $4.5 trillion over the next decade. Most of those spending reductions are achieved by rolling back Fiscal Year spending to 2022 levels and then limiting increases in spending to one percent for the next ten years.

The Central bankers of the world, apparently losing confidence that they can fix the inflation they created, are turning to Plan B: blame the people. So we fight each other.

Last week the chief economist of the Bank of England, Huw Pill, said the quiet part out loud, that “British households and businesses need to accept they are poorer and stop seeking pay increases and pushing prices higher.”

Note inflation in the UK is currently running double-digits, with grocery prices up 19% year-on-year. So not getting a raise may mean cutting a meal.

In the summer of 2020, the Smithsonian Institution created a chart meant to condemn what it calls “whiteness,” and it listed a number of characteristics it claimed were essential to “white culture.” Among the so-called characteristics it described in pejorative terms was delaying gratification, or saving for the future, what Austrian economists would call low time preference.

Citizens Financial Group Inc (CFG.N), PNC Financial Services Group (PNC.N), JPMorgan Chase & Co (JPM.N) and US Bancorp in NFL Draft parlance are “on the clock.” These banking white knights are thought to be among the bidders vying for the remaining carcass of First Republic Bank in an auction process being run by the Federal Deposit Insurance Corp, reports

In a recent lecture on her new book, Redressing Historical Injustice: Self-Ownership, Property Rights and Economic Equality, Wanjiru Njoya challenged current calls among some indigenous groups for “land justice” to redress the alleged historical injustices of European colonization. Drawing from Murray N.

Attention Austrian school economists and enthusiasts: Philipp Bagus and I are pleased to announce the release of our new two-volume book in honor of Jesús Huerta de Soto! “The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto” is a celebration of the life and work of one of the most prominent members of the Austrian school of economics.

The two-volume book offers a collection of essays from notable economists and scholars.