Mises Wire

The Fed Has No Plan, and Is Just Hoping for the Best

Money and Banks


Contrary to the longstanding myth of Fed independence and political neutrality,  the Fed is a deeply political organization committed to kicking the can down the road to get the regime through just one more election without a fiscal or monetary disaster. 

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Time Preference Is the Key Driver of Interest Rates

Capital and Interest TheoryOther Schools of ThoughtPhilosophy and Methodology


Forget the other mainstream explanations for interest. Time preference explains this phenomenon and gives a true picture of why interest exists in the first place.

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The "Climate Emergency": Fueled by 21st Century Marxism

Big GovernmentThe EnvironmentMedia and CultureWorld History

The eternal “climate emergency” is upon us. While doomsday is said to be around the corner, the reality is that the only thing rising is the level of government control.

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There's No Easy Way Out of This Debt Spiral

Money and BanksTaxes and Spending


The new problem we now face arises from the fact that huge deficits are only manageable so long as interest rates remain very, very low. 

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The Federal Reserve is Running Losses. Does This Cost Anyone Anything?

The FedMonetary PolicyU.S. Economy


The Federal Reserve is losing money, according to its official books. Does that matter, or does the Fed operate outside the bounds of the laws of economics?

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The Interest Rate Shock Will Blow Up the Government’s Ponzi Game

Booms and BustsThe FedFinancial MarketsU.S. Economy


As the federal government continues its Ponzi scheme of issuing debt to pay for past debts, interest rates will increase to the point where this no longer is a tenable strategy—if it ever was.

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The Current US Economic Situation from an Austrian Viewpoint

Booms and BustsBusiness CyclesMoney Supply


Forget the New York Times and other publications that cheerlead for the current regime. Austrian economics spells out the consequences for reckless monetary policies, and those consequences are unavoidable.

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Turkey Is Sustaining Major Inflation. Something Has to Give

Economic PolicyInflationMonetary PolicyWorld History


Inflation in Turkey today is officially running close to 70 percent, but the Turkish economy seems to be booming. Inflationary booms, however, cannot be sustained.

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