Inflation isn’t an economic metric — it’s a political tactic. When governments lie about inflation, they’re not miscalculating; they’re stealing from you. Mises Institute Fellow Karl-Friedrich Israel joined The Peter McCormack Show to explain how inflation quietly enriches asset holders, punishes workers, and pushes Europe into a slow, silent decline.
The brief Mexican-American War (1846-1848) was one of the US’s five constitutional wars, that is, it is one of the only five ever declared by Congress. A brief history of the conflict can be reviewed in this 3-minute history video, as well as in Patrick Newman’s Cronyism. Of course, longer treatments of the war are also available.
Governments assume they can print as much currency as they like and it will be accepted by force. However, the history of fiat currencies is always the same: first governments exceed their credit limits, then ignore all the warning signs and finally see the currency collapse.
Today, we are living the decline of developed economies’ fiat currencies in real time. The global reserve system is slowly but decisively diversifying away from a pure fiat currency anchor towards a mixed regime where gold plays the dominant role, not fiat currencies.
Europe’s leaders apparently learned nothing from Napoleon’s disastrous 1812 campaign, and they now seem determined to pursue war with Russia.
It’s a weekend in Pittsburgh and lots of people here and elsewhere around the country are waiting for a money-losing service called government transit.
The photo says it all, with fans of the University of Mississippi giving their former coach, Lane Kiffin, the one-finger salute as he boarded a private jet to take him to his new job in Baton Rouge, where he will coach the Louisiana State University Tigers football team.
With the federal government’s partial shutdown over, the Treasury Department has issued its October report on tax receipts and outlays. Unfortunately, in spite of countless claims from MAGA boosters claiming federal spending will be slashed by Trump, there is still no sign of anything resembling a significant cutback in federal spending.
