“An economic foundation that was built on cheap money and debt.” Bond and equity markets have collectively seen one of their worst years on record. This may come as a shock to those who have followed mainstream financial outlets over the past two years, as everyday we were reminded of the “robust” recovery and “strong” labor market. But our
If you’re into finance, you may have seen this chart: Fed hiking cycles end in crisis - every time. The chart also illustrates that, since the 1980s, the Fed has been unable to achieve a Fed Funds Rate (FFR) at or above the peak of the preceding tightening cycle. It’s not a mystery why this happens: lower-for-longer rates allow for greater debt
Men are not infallible; they err very often. It is not true that the masses are always right and know the means for attaining the ends aimed at. “Belief in the common man” is no better founded than was belief in the supernatural gifts of kings, priests, and noblemen. Democracy guarantees a system of government in accordance with the wishes and
The market is betting on recession and subsequent Fed pivot. A sound bet but there is one flawed assumption. Dec 22 and Mar 23 Eurodollar futures have inverted. In layman’s terms, the market is predicting a Fed rate cut in Q1 of 2023: Yet neither CPI nor PCE have declined to any meaningful degree: The market expects a return to easy money but NOT
With “recession“ dominating economic headlines these days, many have forgotten the K-shaped versus V-shaped recovery debate of late 2020. Still riding the high of stimulus checks and PPP loans, nearly all market pundits concurred that we were largely out of the woods of financial turmoil. Their disagreement lied in whether the rebound would take
As long as Big Pharma wants it, and if there’s a profit to be made, apparently our government will be there to provide lots of taxpayer funding. Actual healthcare is apparently a secondary concern. Original Article: “ A Legacy of Corruption in the FDA and Big Pharma “ This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated
La siguiente es una historia largamente olvidada sobre la verdadera naturaleza de la actitud del presidente ucraniano Volodymyr Zelensky hacia la libertad de expresión. Zelensky ha sido ensalzado por la prensa occidental desde el inicio de la invasión rusa, pero en un pasado no muy lejano, muchas organizaciones internacionales de derechos humanos
La Oficina de Democracia, Derechos Humanos y Trabajo (una rama del Departamento de Estado de EEUU) publica anualmente «Informes de Derechos Humanos» sobre 194 países diferentes de todo el mundo. Su informe de 2021 sobre Ucrania se publicó en abril de este año. A pesar de su relevancia para determinar si la intervención de los EEUU en la guerra
Permítanme ser claro desde el principio: No sé hasta qué punto los mandatos de vacunación han desempeñado un papel en el éxodo voluntario masivo de la población activa. Sin embargo, sé que cualquier periodista de verdad consideraría al menos la posibilidad de que ambas cosas estén correlacionadas. Encontrar a ese periodista resultó ser una tarea
Nuestro sistema sanitario está roto, un hecho que nadie habría discutido en los días anteriores a la crisis. La captura reguladora es una realidad, y la industria farmacéutica está plagada de ejemplos. Sin embargo, confiamos en las asociaciones público-privadas para encontrar una solución óptima a una pandemia mundial, asumiendo que una crisis
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.