Mises Wire

"Because there's so much debt today relative to 10, 15 years ago, a small debt, a small move in yields, 50 basis points in yields today is equivalent to 2% 15 years ago."

The empirical evidence shows that neither minimum wages or welfare reduce poverty. In fact, minimum wages tend to increase the cost of living while poverty rates have gone nowhere since the Great Society was introduced.

Private property is an institution central to civilization and beneficial human interaction. When central banks distort this institution with easy money, the social effects can be disastrous. 

The eurozone still had an unemployment rate of 8.3 percent and more than 7 million furloughed jobs at the end of February. This is just one outcome of the EU's harsh lockdowns and regulation-caused malaise. 

How do recurrent cycles of boom and recession compare to isolated crises caused by extraordinary phenomena? 

Europe's central bank is taking aggressive action to prevent bond yields from rising … to 0.3 percent in Spain or 0.6 percent in Italy. This is the evidence of a massive bubble.

One of the most striking facts of world history: since about 1800, there has been an enormous increase in the average standard of living throughout the world. Before that date, almost everyone was poor, but then things changed.

The socialists have engineered a semantic revolution in converting the meaning of terms into their opposite.

Trouble emerges once banks start to engage in lending unbacked by real savings, this gives rise to the expansion of credit out of “thin air.”  This in turn sets in motion the menace of the boom-bust cycle.

In Las Vegas, airline passengers plummeted 64 percent during 2020, and the convention business has collapsed. For Vegas, there are troubling signs that the world is not in a hurry to spend freely on extravagant face-to-face meetings.