Mises Wire

More than forty years ago, Aleksandr Solzhenitsyn urged his fellow Russians “not to live by lies.” In our politicized age, his words ring truer than ever.

Slavery was driven into the heart of the new constitution: in the three-fifths clause, in the protection of slave importation for twenty years, in the fugitive slave clause, and even in the congressional power to suppress insurrections within the states.

There are no more rabbits for the Fed monetary magicians to pull out of their hats. In an economy addicted to artificially low interest rates, any more moves by the Fed will trigger an economic downturn.