U.S. Economy

Bob Murphy discusses the Mises-Hayek theory of the boom-bust cycle, and explains the predictive power of an "inverted yield curve".

100-year bonds push government debt onto future taxpayers who haven't even been born yet. And they also show the government has no intention of actually paying its debts.

Defenders of slavery so vehemently opposed free labor, they claimed the "wage slavery" system was even worse than slave labor. The idea being that slavery is morally superior to wage labor.

C Jay Engel Reviews The Socialist Manifesto, from the Editor of Jacobin.

It is troubling that after a decade of an economic expansion, the US government is still spending money as it does during and immediately following a recession. It is as if the economy is now in a state of permanent "stimulus."

Last week Business Insider referenced a study to defend NYC's minimum wage law. Neither holds up well upon any sort of serious analysis.

Shelton has been condemned by "experts" from both sides, but anybody who would liken the Fed to the Soviet central planners is an independent thinker worth considering.

So how has the modern Democrat party built on its proud legacy of such Ponzi schemes like Social Security? By adding new ones.

With the economy growing at 2.1%, unemployment at 3.6%, creating 170,000 jobs per month, and estimated underlying core inflation of 2%, no objective data justifies cutting rates that are already artificially low.

The main indicators of the economic cycle point to a possible crisis and recession in the US economy. and maybe also in Europe.