It seems to be a hard time for those expressing concern about the build-up of risks in the economic and financial system: the major economies in the world are expanding at a decent clip, credit default concerns are very low, and stock and housing prices keep going up, driven by investor optimism and supported by an ongoing low interest rate environment.
Chocolate company Toblerone announced this week that it will be returning its chocolate bars to the pre-2016 shape — at least in the British market. Back in 2016, the company had decided to put less chocolate in its chocolate bars by changing the shape. It was, the company said, part of an effort to deal with rising production costs. Here’s what the two different versions of the bars looked like:
According to financial writer Simon Black, the federal government is spending approximately 52,000 dollars per second. This, not last year’s tax cuts, is the reason why the national debt has reached a record 21 trillion dollars, which is more than America’s gross domestic product (GDP).
Another ominous sign is that this year both Social Security and Medicare will have to draw down on their reserve funds to be able to pay benefits. The Social Security and Medicare trust funds will both soon be bankrupt, putting additional strains on the federal budget and American taxpayers.
During Mises University this week, we will be sharing short interviews with some of this year’s students.
Zachary Yost is a graduate student at Catholic University and a a Free Society Fellow with Young Voices.
Mises U is a week unlike any other. It is the best place to learn from and engage with the top minds in the Austro-libertarian tradition and to network with like-minded peers at similar levels of their intellectual journey.
The term “deep state” has been so over-used in the past few years that it may seem meaningless. It has become standard practice to label one’s political adversaries as representing the “deep state” as a way of avoiding the defense of one’s positions. President Trump has often blamed the “deep state” for his political troubles. Trump supporters have created big conspiracies involving the “deep state” to explain why the president places neocons in key positions or fails to fulfill his campaign promises.
Returning today to Mises University 2018, it’s difficult and even a little scary for me to accept that thirty summers have gone by since my first Mises University in 1988 on the Stanford campus. And it’s been twenty five years since I graduated from the University of Nevada Las Vegas (UNLV) with a master’s degree in economics, earned under Dr. Murray Rothbard and Dr. Hans-Hermann Hoppe.
