Mises Wire

The Fed is desperate for you to think that "this time is different." Unfortunately, Powell can't seem to come up with an explanation of why that is the case.

Many proponents of free markets have tried to cast aside the name “capitalism” as a descriptor of the market system. They should take caution before doing so.

The more things change, the more they remain the same. In our present age of inflation, we are reminded of how Diocletian and other Roman authorities ordered price controls and other measures to hold down prices. None of these edicts were successful in bringing down prices.

The Fed is desperate for you to think that “this time is different.” Unfortunately, Powell can’t seem to come up with explanation of why that is the case.

The Fed’s specialty is propaganda through data, with a long record of failure. This is by design. Their communication tools must work in overtime, particularly in the face of a decision like this, to avoid “spooking markets”, though this veneer is easy to see through.

Banking systems around the world have huge effects on our lives, yet few people understand how banks work. Worse yet, even fewer understand the malign powers of central banks and how this system undermines economies. Thus, it is important to demystify these systems.

After Trump narrowly escaped another assassination attempt, the establishment seems uninterested in the motives of the would-be shooter. Perhaps that’s because he’s echoing the same simplistic narratives about the Ukraine war and Trump that they demand we all believe.

If the government really believed you would be better off and more prosperous with their policies, they would encourage free speech because everyone would value their welfare improvements. They need to limit free speech because they know they will make you poorer.

With this latest policy turn, the evidence continues to mount that Milei is more a typical conservative or "rightist" than he is a free-market libertarian in any meaningful sense. 

Both economists and laypeople carelessly refer to interest rates as the "price" of money. As Austrian economists have pointed out, however, interest is what people are willing to pay to control resources at the present time instead of waiting until later, time preference.