Zero Hedge has reprinted my recent Mises Wire post discussing the historical movements of the Rothbard-Salerno True Money Supply aggregate and what they portend for the future of the current boom in the U.S. economy.
Back in 2016, Donald Trump criticized the Federal Reserve for keeping interest rates too low. Trump explained that the Fed’s work to keep interest rates artificially low benefits the wealthy at the expense of the poor:
And you know the people who are hurt the most are people that saved all their lives, and thought they were going to live off the interest. Those people are getting absolutely creamed.
Momentum is strongly behind the United States government ending its war on marijuana.
In his Theory of Moral Sentiments, Adam Smith described many ways in which people solve problems to be able to work with other people. Trust is a key theme which Smith returns to throughout his works. “We trust our health to the physician; our fortune and sometimes our life and reputation to the lawyer and attorney.
A Peru-born friend of mine complains that Christmas trees have become popular in his native country. Given that Douglas firs aren’t exactly part of the indigenous flora in Peru, the (mostly artificial) firs and pines used as Christmas trees in homes across the country strike him as incongruous with local customs and the local environment.
He has a point. But he may be fighting a losing battle.
After all, over the past four hundred years, the Christmas tree has taken the world by storm, spreading from northern Europe to the Americas and beyond.
Is more gun control legislation coming to Congress?
The 2018 midterm elections produced a split Congress with Democrats gaining control of the House and Republicans gaining seats in the Senate.
Against the wishes of Donald Trump and many investors, the Powell Fed followed through on its projected interest rate hike — its fourth for 2018. The targeted federal funds rate now stands at 2.25 - 2.5, which still remains historically low.
New York City is gearing up to tighten state controls on the curriculum at private schools for Orthodox Jews known as yeshivas.
Some activists against these so-called “ultra-Orthodox” schools claim that they spend too much time on religious and cultural instruction, and too little time on more “secular” topics.
The city has now taken up the cause and plans a wide-ranging review of yeshivas.
