In a recent interview with 60 Minutes , Fed chairman Jerome Powell gave assurances that the US banking system is sound. Ben Bernanke also claimed almost twenty years ago that real estate markets were not overextended. The hubris must be in the water at the Eccles Building. Original Article: Hubris Runs Rampant at the Fed
If the NFL is about anything it’s about economics. Commissioner Roger Goodell and the collective owners must be tickledgreen about the $331.5 million in equivalent brand value that Taylor Swift has meant for the Kansas City Chiefs and the NFL. After all, it’s all for one and one for all for the colossus Pete Rozelle built. Rozelle negotiated a
The wordsmiths at the Federal Reserve wisely omitted the line about a “sound and resilient” banking system in its statement on January 31. That same day shares of New York Community Bank plunged when the bank announced a loss of thirty-six cents per share when analysts expected earnings of twenty-seven cents a share for the fourth quarter.
Prices will always increase, some small banks will fail, and the Fed was asleep at the switch when the run on Silicon Valley Bank occurred. Fed chair Jerome Powell admitted those three things in response to Scott Pelley’s questions on 60 Minutes . “But the overall price level doesn’t come down. It will fluctuate. And some . . . goods and services
The amount of commercial real estate loans coming due in 2024 has jumped to $929 billion according to the Mortgage Bankers Association. Previously the amount had been estimated to be $659 billion, with the 40% increase “attributed to loan extensions and other delays rather than new transactions,” according to Bloomberg ’s John Gittelesohn. Of the
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Doug French to discuss the health of US banks, the specific dangers of commercial real estate debt, and the risks of industry consolidation. Discussed on the Show “The Fed Claims the Banking System is “Sound and Resilient.” The Banks’ Balance Sheets Say Otherwise” by
Bloomberg reports that Treasury Secretary Janet Yellen’s pick for a dream date lunch would be none other than John Maynard Keynes, who Bloomie reporter Christopher Condon describes as “the founding father of modern macroeconomics.” I thought John Law held that title. This pronouncement happened during a speed round of questions in Detroit while
Oh but ain’t that America for you and me. Ain’t that America something to see baby Ain’t that America home of the free Little pinks houses for you and me. John Cougar Mellencamp Released in 1983 after double-digit price inflation from 1979-1981 Shrinkflation has President Joe Biden annoyed. He called it a “rip off” on social media ahead of the
One would guess the folly of rent control regulations needn’t be explained any further. If rents are held in place by government edict, landlords have no incentive to maintain apartment units to attract renters, the housing stock ultimately deteriorates, and homelessness increases. But, as Bloomberg reports , “Tougher rent control, returning
New York City’s government has imposed draconian rent controls. The natural outcome, as economists note, has been massive shortages, as apartment owners no longer have an incentive to rent empty apartments. Original Article: The Folly of Rent Control in New York City (Again)
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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.
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