Mises Wire

Inflation Is Great If You're Already Rich

Booms and Busts

Blog05/19/2021

We've seen pictures of empty shelves in Venezuela. Meantime, the one-year return on the Caracas stock exchange is 1,804.92 percent. If you're already rich in assets, inflation is a big nothing burger. But it's a problem if you're poor. 

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What Does "Seasonally Adjusted" Mean?

U.S. History

Blog05/19/2021

Without a coherent theory, it is not possible to begin to understand the causes of business cycle and no amount of data torturing by means of the most advanced mathematical methods will do the trick.

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The New Constitution: The Ratification and Amendment Process

U.S. History

Blog05/18/2021

The founders of the new constitution proposed a cynical end run around state legislatures in order to improve the odds of ratification.  The "founding fathers" increasingly abandoned established law, justifying it with claims of a "national emergency."

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How Covid Put an End to Your Right to Due Process

Property Rights

Blog05/18/2021

The covid panic brought an end to due process in many ways. Among these are the end of speedy trials and the end of a timely hearing for landlords to obtain evictions. Meanwhile, governments have seized private businesses with no due process at all. 

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Investors Won't Buy the "Transitory" Inflation Line

Money and Banking

Blog05/18/2021

Governments always justify printing more money with the excuse that there is no inflation. When inflation rises, they say it is transitory. And when inflation soars, governments blame businesses and shop owners, presenting themselves as the solution with “price controls.”

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Money-Supply Growth Finally Slows in March, Drops to 10-Month Low

Money Supply

Blog05/17/2021

During March 2021, year-over-year (YOY) growth in the money supply was at 34.1 percent. That's down slightly from February's rate of 39.1 percent, and up from the March 2020 rate of 11.3 percent. 

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How Monetary Expansion Creates Income and Wealth Inequality

Blog05/17/2021

Economic inequality caused by money printing benefits most those who claim to stand up for "the little guy" and denounce "trickle-down" markets. But there is nothing more "trickle down" than government money printing from on high.

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The Real Estate Boom in Vegas Is More Frenzied Than Ever

U.S. Economy

Blog05/17/2021

In Las Vegas, asset price inflation is combining with rising prices on building materials to create a real estate bubble of remarkable proportions. 

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