The “true money supply” measure is a measure of the money supply pioneered by Murray Rothbard and Joseph Salerno and is designed to provide a better measure than M2. The Mises Institute now offers monthly updates on the TMS metric and its growth. 

What were the three greatest successes of the revolution? Education, health, and defense. What were the three greatest failures? Breakfast, lunch, and dinner. — Cuban food joke

The radio program The Splendid Table recently featured a story about the rediscovery of good food in Cuba.

Rubio post-mortems miss the point. In the end, it is just more fall-out from crony capitalism.

None of the post-mortems of Rubio’s campaign I have seen mention the real reason why the young senator, so articulate, so successful, recently touted as the future of his party, never got launch speed in his campaign for the presidency. It is actually Senator Charles Schumer (D-NY)’s handiwork, aided and abetted by Rubio’s misjudgment.

Unanimous decisions by the FOMC are fairly common as a way to build “confidence” in the economy. The recent FOMC decision on Fed policy going forward was not unanimous. Let’s take a look at who voted against the rest of the committee.

It’s Ester L. George the president of the Kansas City Fed. She is from Missouri and graduated from a Missouri college. She has worked for the Kansas City Fed most of her life, working with former President Thomas Hoenig, who was considered one of the last inflation “hawks.”

Earlier this week, Jeff joined Dennis Tubbergen of “Everything Financial Radio” to talk Austrian economics and the bizarre world of negative interest rates.

Janet Yellen was forced to wave a white flag this week, admitting what was long obvious — the Federal Reserve overestimated the strength of the global economy and will not be able to go through with its planned four rate hikes in 2016.

Supporting free trade is simply a matter of taking no action when another person exchanges in non-violent exchange with another person. That person may be right down the street, or that person may be in another country somewhere. No “free trade agreements” or other paperwork of any kind is required.

The Japanese response to negative interest rates was to buy personal safes. The German response is to pull money out of bank accounts and stick it in safe deposit boxes. Both are perfectly understandable reactions to the prospect of having to pay interest to a bank for holding deposits.