Mises Wire

What does ChatGPT know about money? More than one might think. George Ford Smith asks the AI program some questions about money and gets some surprising answers.

Governing elites believe that the fiat money system is the height of “sophisticated” finance. In reality, fiat money sucks the life out of the economy like a vampire.

Despite a recent claim in Reason by Paul Schwennesen that a briefly-successful Ukrainian advance somehow translates into an ultimate Ukraine victory. The hard facts of the war tell us something different.

The last time China hit a recession, in 2008, Beijing dumped massive stimulus into the economy. This time, China's debt — over $50 trillion — has grown to the point it can't afford it.

The US Government is no stranger to scamming citizens but the latest financial hustle being proposed, a sovereign wealth fund, is a flim-flam on steroids. It needs to be put out of its misery before it makes the rest of us miserable. 

Many “mainstream” economists are bothered by the popularity of economically-flawed policy proposals like tariffs and price controls. It’s their own fault.

Lowering rates is a tool to rescue the government. If you make it easy for governments to borrow, they will gladly do it and continue printing currency.

Remember when progressive governments outlawed church gatherings but sanctioned sex orgies? Yes, it really happened. 

Ask most people why our economy is advanced, and they will likely will answer, “Technology.” Yet, technical knowledge is meaningless without capital development, and capital development is impossible without real savings.

In the past four years, a number of monuments honoring the Confederacy have been torn down or removed. As we have seen before, however, the activism behind this movement will not stop with just taking down Confederate symbols.