They a picture is worth a thousand words. This is a picture of the government statistic on the Civilian Labor Participation rate. That rate is now at a 35 year low. The steep decline in the rate is indicative of people giving up hope of ever finding a job, so they stop looking for a job and therefore are no longer considered part of the labor force = (employed and unemployed).

On Monday, former Fed official Andrew Huszar publicly apologized to the American public for his seminal role in executing the QE program, a program he characterizes as “the greatest backdoor Wall Street bailout of all time,” and “the largest financial-markets intervention by any government in world history.” While this is a momentous admission from an insider (Mr. Huszar is also a former Wall Street banker), perhaps Mr.

On 15 November 1923 decisive steps were taken to end the nightmare of hyperinflation in the Weimar Republic: The Reichsbank, the German central bank, stopped monetizing government debt, and a new means of exchange, the Rentenmark, was issued next to the Papermark (in German: Papiermark). These measures succeeded in halting hyperinflation, but the purchasing power of the Papermark was completely ruined. To understand how and why this could happen, one has to take a look at the time shortly before the outbreak of World War I.

Christine Fard discusses her experiences at Mises University and explains Austrian Economics:

Listen in to hear Mark Thornton’s interview with Scott Horton today:

Mark Thornton, Senior Fellow at the Ludwig von Mises Institute, discusses life in crony-capitalist America, where Wall Street gets bailouts and interest-free money and Main Street is stuck with Obamacare, food stamps and persistent unemployment. Duration: 28 minutes Listen here. 

Buried in Kevin Warsh’s “Finding Out Where Janet Yellen Stands” in today’s Wall Street Journal, where Warsh “highlights─and then questions─some of the prevailing wisdom at the basis of current Fed policy”, is a short statement which illustrates the growing, but seldom acknowledged, influence of the ideas of Mises and Hayek on current thinking on monetary policy.

. . . and make the results public, say 74% of Americans in a national  telephone survey conducted by Rasmussen Reports.

HT to Mike Stern of Auburn University.