Booms and Busts

The Fed is talking about raising interest rates, but it knows that any move in that direction is likely to cause a recession and more economic pain. But it also knows it can't keep forcing down interest rates forever.

In 1925, Winston Churchill, in spite of massive wartime inflation of the pound sterling, restored the gold standard at the old pre-war exchange rate. This set off a chain of events that led to the 1929 crash in America, and the rise of Keynesianism.

Asset-price inflation is being ignored as pundits focus on consumer goods. But if we look at asset prices, the carry trade, and commodities, we have reason to believe that the current boom is entering a stage similar to what we saw in 2007.

The old tricks of conventional monetary stimulus — low interest rates — no longer work, so we've entered the untested waters of zero-interest-rate policy.

The Skyscraper Curse Hits South America!

Physical cash has long been problematic for governments because it allows people to avoid the banking system, which in turn can lead to tax avoidance and bank runs. It’s much easier to control an economy when all money must remain in banks.

Learn the fundamentals of the Austrian school.

Recorded at the Mises Institute in Auburn, Alabama, on 23 July 2015.

Recorded at the Mises Institute in Auburn, Alabama, on 21 July 2015.

Apple, Facebook, and Google planning lavish corporate headquarters help paint a picture of a stock market top.