Mises Wire

The "Bootleggers and Baptists" of the Coronavirus Crisis

HealthU.S. HistoryWorld History

Blog03/20/2020

Although it doesn't explain everything, it's always a good idea to ask "who benefits" whenever governments step in to "solve" a crisis.

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The Fed Is a One-Trick Pony

Financial MarketsMonetary PolicyU.S. Economy

Blog03/19/2020

Printing up paper money—which is the Fed's solution to nearly everything—will not bring about a miraculous replacement of the lost goods and services or repair broken supply chains.

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The Global Economy Won't Bounce Back Soon

Global Economy

Blog03/19/2020

It is very likely that the shutdown of major developed economies will be followed by a shutdown of emerging markets, creating a supply shock as we have not seen in decades.

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The Fed Has Sufficient Tools—to Wreck the Economy

Booms and Busts

Blog03/17/2020

These famed "tools" of the central bank are nothing but cunning and arcane techniques for conjuring additional trillions of dollars out of thin air and pumping them into the global economy.

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The Fed’s Massive Injection of "Liquidity" Also Benefits Uncle Sam

The FedFinancial MarketsMonetary Policy

Blog03/16/2020

By announcing that it is willing to throw up to $1.5 trillion in electronically created money in order to give three-month loans to those institutions that bought Treasury debt earlier, the Fed is bailing out not only the holders of Treasury debt, but also the Treasury itself.

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The Coronavirus Won't Be the Cause of the Next Bust, but It Will Make It Worse

Booms and BustsMonetary Policy

Blog03/12/2020

Although shocks can disrupt the pace of economic activity, they have nothing to do with the phenomenon of recurrent boom-bust cycles. The cycle requires something more. A central bank, for instance.

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The CDC's Budget Is Larger Now Than Under Obama

Blog03/11/2020

Many left-wing pundits and politicians are claiming that the Centers for Disease Control budget was "gutted" in recent years. But the CDC's budget is now higher than it was in the final years of the Obama administration.

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The "Market Monetarists" and NGDP Targeting

Financial MarketsMonetary PolicyOther Schools of Thought

Blog03/10/2020

A relatively new challenge to the Austrian framework comes from the “market monetarists” and their endorsement of a central bank policy of “level targeting” of nominal gross domestic product.

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