The housing bubble has been replaced by a number of new bubbles. Among them is the auto loan bubble. Car loans now last longer than ever and are going to more people with bad credit. This might not end well.
Rather than a cold estimate of the probability of future returns, the Powerball actually illustrates the subjective theory of value.
The Big Short is a pretty good movie, but there are a few things it leaves out.
Happy New Year from everyone at the Mises Institute! After an exciting 2015 filled with important research and growth in our global reach, we look forward to 2016. We start the new year with a Mises Weekends from Judge Andrew P. Napolitano.
