Economists have failed to explain the mechanism by which an inverted yield curve signals an impending recession. But the Misesian explanation of the business cycle quite easily explains the pattern we observe in interest rates.
During April 2022, year-over-year money supply growth was at 7.23 percent. That's down from March's rate of 7.41 percent and April 2021's rate of 36.8 percent.
Totalitarian societies do not become that way overnight. There are recognizable signs and stages which show how a society slides into that abyss.
Progressives believe that economies should be run by high-IQ "experts." But successful market economies require entrepreneurs with an idea and the willingness to face uncertain economic conditions.
The Federal Reserve is raising interest rates in hopes of reversing some of the inflationary damage it has done for more than a decade. Unfortunately, the Fed already has done incalculable damage to the economy.
Not since 1981 has the inflation rate been higher than May's rate of 8.6%. Meanwhile, the Fed's idea of "quantitative tightening" is cutting its portfolio 0.5% over eight months.
The theory of real business cycles won a Nobel Prize, but it ultimately confuses cause with effect.
The Fair Tax is a supposed alternative to the income tax. But the name does not matter, since a tax is still a tax.
Not only must the war against progressivism be fought with a religious fervor, but it must also be, in Rothbard’s words, “openly and gloriously reactionary.”
Progressives have long pushed for a state dominated by a new class of "scientific" experts who are supposedly nonpolitical and pursuing only "good government." It's a fantasy many people still believe.
