What Determines the Price of Gold? The outlooks of gold analysts are diverse. After reading the latest WGC report, Mineweb is bullish : “Gold demand tops US$100 billion and mine supply remains under threat.” John Nadler, however, is bearish , citing the expected “additional 400–500 tonnes per annum” that will result from the exploration boom of
[ Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts • by Hunter Lewis • Axios Press • 390 pages] “Lewis’s book is accessible to anyone who has had a macroeconomics course, and to the general reader of the business media.” This important book fills a gap in the literature. It is an Austrian critique of
It is sad to see a once-thriving city deserted. The heart-breaking sight of a handful of forlorn stragglers and struggling businesses remaining from what once was a bustling community makes us wonder, “why, why?” Only the most cold-hearted could be indifferent to the painful legacy of broken families, the receding memories of what once was, and
Resource Investor quotes Elliot Wave analyst Steve Hochberg “The systemic build up of total market credit is so large, currently about $52 trillion, that its implosion will swamp the Fed’s attempts to inflate. And as Conquer the Crash discusses, the remaining dollars that are not extinguished through bankruptcy, restructuring and write-offs, will
Lilburne’s recent article quotes Bernanke, on housing prices: Well, unquestionably, housing prices are up quite a bit; I think it’s important to note that fundamentals are also very strong. We’ve got a growing economy, jobs, incomes. We’ve got very low mortgage rates. We’ve got demographics supporting housing growth. We’ve got restricted supply in
Jason Rosenhouse over at Evolution Blog provides the following “breain teaser”: It is the month of August; a resort town sits next to the shores of a lake. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit. Suddenly, a rich tourist comes to town. He enters the only
The following points appear frequently in mainstream media commentary on China: China’s economy is growing at a rate of 8% annually, perhaps higher The Communist party will not “allow” growth to slow because it would create social unrest China’s development is based on the “export-lead-growth model” The export-lead model has been successful in
My day job is software development. Within the field there is a considerable literature on modeling, which means more or less, identifying and organizing the concepts in your problem domain into a form that is suitable for writing programs. While reading the book Model-Driven Design Using Business Patterns by Pavel Hruby, I was struck by some
Analysis of the economics of gold price formation by the financial media is nearly all wrong. The majority of articles and research reports obsess about mine supply, as if it mattered (which it doesn’t see 1 and 2 ). There are additional pointless discussions about whether the gold industry is in a phony deficit or surplus ( neither ). A variant
From my friend Jeff Scott, a link toGretchen Morgenseon’s column in the New York Times Why Treasury Needs a Plan B for Mortgages : Of course, cries of moral hazard will erupt if borrowers get large cuts in their principal balances. Rightly so. Why should those who took on too much debt to buy too much house get rescued when those who were prudent
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.