Mises Wire

The debt ceiling served an important historical purpose. It continues to serve this purpose today. Raising it without limit is not necessary and is a dangerous precedent.

Raising the debt limit will only delay the inevitable while courting fiscal and monetary chaos: higher interest rates, cuts to social programs, a declining dollar, and price inflation. 

Just as Mises warned, interventionism succeeded where communism failed, successfully toppling governments around the world that never had true respect for property rights.

"American media are divided into “respectable” and “non-respectable” media. Respectable media, which are the only ones that are read by the American political elite, and presumably are all that filters down to European readers, are completely biased in favor of social democracy." — Murray Rothbard, 1992

Data analysis can establish some information about correlations. But good thinking about causation only comes from sound logical economic theory. 

“Covid,” “global warming,” “overpopulation,” “domestic extremism”—the crisis may change, but the playbook remains the same. But we can change the outcome.

In the face of an “invisible enemy,” many Western nations have implemented emergency measures that were once considered dystopian and wholly incompatible with liberal democracy. 

Instead of spreading “democracy” by bombing foreign nations, America will be spreading “health” by delivering vaccines produced by untouchable pharmaceutical conglomerates.

The crisis may change, but their answer will remain the same: the sacrifice of our freedom to the whims of would-be central planners. We must keep lit the torch that Ludwig von Mises has passed down to us.

"My preference would be that all state central banks would be shut down and razed to the ground, so that true money again could be produced by private firms. If not, at least the competition between national currencies should be as great as possible." –Murray Rothbard, 1993