Another week, another economic report far worse than expectations. As Vladimir Zernov notes: U.S. has just released Inflation Rate and Core Inflation Rate reports for June. Inflation Rate grew by 0.9% month-over-month in June compared to analyst consensus which called for growth of just 0.5%. On a year-over-year basis, Inflation Rate increased by
In 2013, a bitcoiner posted “I AM HODLING” on a bitcoin forum, intending to write that he was holding during a large price drop. He was explaining that most people are not successful traders and as a result they will inevitably just lose out in the process of trying to time the bear market, so instead he encouraged that bitcoiners should hold and
This week, Federal Reserve Chair Jerome Powell gave two days worth of testimony before Congress. As part of his testimony, he presented the Monetary Policy Report July 2021 . With this week’s major economic news flow undoubtedly being that (price) inflation, as measured by the Labor Department, is on the dramatic rise, it’s easy to lose sight of
Over the weekend, Yahoo Finance Editor-in-Chief Andy Serwer wrote an article titled: How the Federal Reserve can really help America. His error is as old as the word “ Socialism ” itself. The author seems genuine in wanting a better society, but his misguided belief is that the way there is through better planning from the government and the Fed.
How well can anyone remember past Federal Reserve Chairs? There was Volcker, who allegedly solved the inflation crisis by raising rates and bringing about a recession. After Volker there was Greenspan who is still referred to as “the Maestro.” Followed by “Helicopter” Ben Bernanke... a name he probably doesn’t appreciate much. After Ben came
Editor’s note: Mark Spitznagel is President and Chief Investment Officer for Universa Investments. He has written about risk mitigation and “tail hedging” in his books The Dao of Capital and Safe Haven . He is a well-read student of Austrian economics, and has applied the insights of Mises and others to his professional work. This editorial,
The July Federal Open Market Committee (FOMC) meeting this week had many interesting sound bites and a lot of Fedspeak, as is typical from one of the nation’s most powerful central planners, talk of the Fed’s “liftoff” being among them. Don’t bother looking in any textbook in search of an economic model or the theory behind liftoff; there is none.
Effective July 29, 2021, the Federal Reserve directed the New York Federal Reserve’s Trading Desk (the Desk), to: Conduct overnight repurchase agreement operations with a minimum bid rate of 0.25 percent and with an aggregate operation limit of $500 billion; the aggregate operation limit can be temporarily increased at the discretion of the Chair.
In Abraham Lincoln’s June 16, 1858, speech upon being chosen as Illinois’ Republican nominee for U.S. Senate against Stephen Douglas, he cited Jesus’ words in the Bible that “a house divided against itself cannot stand.” Today, that principle is once again an ominous portent for America. We have piles of politicians who claim they will unify us,
Government-mandated vaccine passports are a denial of basic human rights. Unlike the ambiguity surrounding abortion, vaccines undoubtedly affect only the individual being injected and therefore should be that person’s choice. Informed consent has historically been a moral principle of the medical field. No cognizant patient undergoes medical
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.