Mises Wire

Nuland was an advisor to ultrainterventionist Dick Cheney and would continue the costly expansionist policies of the Bush and Obama years. 

In a normal world, American spending would have sharply declined during the past year. But a flood of newly printed money has juiced spending and imports. 

Monetary sovereignty is not something the government decides. It all depends on the public's demand for a currency. That demand comes and goes, and once it's gone, a currency is irreparably damaged. 

China was one of the first countries to develop a metallic money that was valued and exchanged by weight. Evidence suggests that this monetary regime originated during the Shang Dynasty (1766–1122 BC). 

Hegel and Marx took a philosophy from some fringe Christian groups and turned it into a global utopian movement that has been disastrous.

It’s possible the pandemic will fizzle, someone will snap their fingers, and everything will revert to the precovid economy. But indications are that commercial real estate will take lumps, some that will be fatal. 

To be an economist with integrity means having to say things that people don't want to hear and especially to say things that the regime does not want to hear. 

An explosion in the money supply has driven many corporate managers to turn to stock buybacks as a safe alternative to holding on to depreciating cash. This means many companies are decapitalizing.

The new covid relief bill signals that whatever restraint on public spending existed before 2020 is now all but gone. And the bill represents the beginning of a new era: an era that can be likened to that of the New Deal. 

Most of the economic groups in the 1780s favored inflation: the main problem was in determining which groups would obtain the enjoyment of the newly created money.