Mises Wire

Russia and China may share an interest in countering US hegemony, but the two states also must deal with many sources of conflict, from trade blocs to border wars. 

Mainstream academic economists believe that we advance economics by "testing" theories. Austrian economists believe economics is about understanding human action and does not have to be subjected to constant tests.

From economic power to demographics to military spending, Russia simply doesn't have the ability to be a great power that threatens anyone outside its "near abroad." 

Central banks are going to receive fierce (and well-deserved) criticism, whatever they do. Pick your poison: inflation or bankruptcy.

The Turkish regime understands that many Turks have fled the devalued lira by purchasing gold. It is working on several schemes to get people to turn in their gold.

Opponents of markets claim that worker wages have not kept up with worker productivity. This incorrect claim is based on two mistakes in estimating wages. 

The Fed is, effectively, a car driving at night, very fast, with no headlights. That is a real threat, probably to an unprecedented degree.

The Ukraine crisis arrives in the middle of an evident slowdown of the largest economies after the placebo effect of massive stimulus plans has already worn off.

Like America's central bank, the European Central Bank can't let interest rates rise without facing some big negative repercussions.

Even as the USA seeks to expand NATO while it escalates tensions with Russia, the organization is facing internal pressures as some member nations do not agree with Washington's saber-rattling agenda.