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An Austrian Take on Inflation

Tuesday, March 31st, 2015 by posted in Banking, Economics.
money-printing1 teaser

Reprinted from Cobden Center We know that today’s macroeconomists are very confused about inflation, if only because despite all experience they think they can print money and increase bank credit with a view to generating price inflation at a controlled

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Earth Hour: A Dissent

Monday, March 30th, 2015 by posted in Banking, Environment.
north_korea

In 2009 I was asked by a journalist for my thoughts on the importance of Earth Hour. Here is my response. I abhor Earth Hour. Abundant, cheap electricity has been the greatest source of human liberation in the 20th century.

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Household Debt Soars in Canada, “Stability” at Risk

Tuesday, March 24th, 2015 by posted in Banking, Capitalism, Economics.
home_teaser

Reprinted from Zero Hedge Debt by Canadian households is a special phenomenon. Statistics Canada reported today that in the fourth quarter, household debt set another breath-taking record. Earlier this month, even Equifax Canada, which is in the business of facilitating

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Illusion of Prosperity

Monday, March 23rd, 2015 by posted in Banking, Economics, History.
Home-Construction_teaser

President Obama and Federal Reserve chair Janet Yellen have recently been crowing about improving economic conditions in the U.S.  Unemployment is down to 5.5% and economic growth in 2014 hit 2.4%. Journalists and economists point to this improvement as proof

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World’s Oldest Central Bank Asks Paul Krugman To Shut Up

Tuesday, March 17th, 2015 by posted in Banking, Capitalism, Economics.
krugman090421

Reported from Zero Hedge About a year ago, everyone’s favorite easy money advocate Paul Krugman accused the world’s oldest central bank of turning Sweden into Japan by adopting a policy of “sadomonetarism.” The Riksbank, Krugman claimed, unnecessarily transformed itself from

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Who Will Regulate the Bank Regulators?

Monday, March 16th, 2015 by posted in Banking.
bankrun

A fascinating report by Finn Poschmann from the C.D. Howe Institute discusses the history of bank regulation in the U.S., Canada, and U.K. It explains the movement away from shareholder liability in banks, towards the current system where taxpayers are ultimately on

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A good lesson from Greece in the difference between private and public finance

Tuesday, March 10th, 2015 by posted in Banking, Capitalism, Economics, Politics.

From today’s Open Europe news summary (my emphasis): Greece to start technical talks with creditors tomorrow amid criticism that too much time is being wasted Eurozone finance ministers agreed yesterday that officials from the Greek government and the EU/IMF/ECB Troika

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Time for Some Mattress Padding

Thursday, March 5th, 2015 by posted in Banking, Capitalism, Economics.
nestle_teaser

Can you imagine borrowing $1000 from the bank and receiving $10 per year interest from the bank? I didn’t think so. However, this is the happy situation facing some European countries and even a few Swiss companies. The Swiss, Swedish, and Danish governments

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Check out John O’Donnell on Mises Weekends

Sunday, March 1st, 2015 by posted in Banking, Capitalism, Economics.
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Make sure you check out investor John O’Donnell discuss applied Austrian economics and his history with Murray Rothbard on the latest Mises Weekends podcast show. You can listen here.

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Fed Independence is a Joke, So Why Not Audit?

Thursday, February 26th, 2015 by posted in Banking, Capitalism, Economics.
Inside The International Monetary Fund's Rethinking Macro Policy Conference

Reprinted from FreedomWorks A whistleblower-hating president, a bureaucrat who illegally targeted conservatives, and the former national intelligence director who lied before Congress walk into a bar. The bartender says: what can I get “the most transparent administration in history”? If

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The Myth of Black Swan Market Events

Thursday, February 26th, 2015 by posted in Banking, Capitalism, Economics.
Black Swan_teaser

Reprinted from the New York Times Dealbook As André Gide, the French Nobel laureate in literature, once said, “Everything that needs to be said has already been said. But since no one was listening, everything must be said again.” Indeed,

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The Enduring Rothschild Myth

Tuesday, February 24th, 2015 by posted in Banking, Capitalism, Economics.
Rothschild_Schloss_t

In the world of international financial conspiracy no family name is more vilified than that of Rothschild. The name is central to countless conspiracies and today the family is assumed by certain groups to be in control of many of

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Scott Sumner and the Lead Up to the Great Recession

Wednesday, February 18th, 2015 by posted in Banking, Economics, History.
Obama Economy

Scott Sumner poses a question, and his answer over at Econlog: 1. What would it look like if it looked as though interest rates fell for some reason other than the Fed cutting interest rates with an expansionary monetary policy?  

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A Way Forward for Greece

Monday, February 16th, 2015 by posted in Banking, Capitalism, Economics.
greece_banks_teaser

The current Greek crisis is exposing the elephant in the room – a worldwide problem getting progressively worse by the day. It’s a problem that has plagued developed economies for the last two centuries. A problem currently metastasized into a full-blown cancer

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What Economic Elites Don’t Want You to Know about Crashes

Thursday, February 12th, 2015 by posted in Banking, Capitalism, Economics.
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Reprinted from the Freeman James Grant. The Forgotten Depression: 1921: The Crash That Cured Itself. Simon & Schuster, 2014. 273 pages. The Great Recession drags on everywhere except for Wall Street, Washington, DC, and Ben Bernanke’s consciousness. “By stabilizing the

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Let There Be Money

Thursday, February 5th, 2015 by posted in Banking, Capitalism, Economics.
bitcoin pile teaser

Reprinted from The Freeman For more than a century, skeptics of government power have rightly focused on the damage caused by interventions in money. As the market’s classic commodity moneys have been displaced by unbacked State-issued paper, libertarians — particularly

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Bitcoin: Currency Canary in the Coal Mine?

Tuesday, February 3rd, 2015 by posted in Banking, Capitalism, Economics.
bitcoin dollars teaser

Reprinted from Casey Research “Without Drugs, What’s the Point of Bitcoin?” wonders the Atlantic. I answer author of the piece, Matt Schiavenza, with two words: central banks. It’s no coincidence “Satoshi Nakamoto” created Bitcoin in 2009 as the financial world

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Carl Menger: Pioneer of “Empirical Theory” Part 2

Thursday, January 29th, 2015 by posted in Banking, Capitalism, Economics, History.
Elephants-and-Figures-in-a-Courtyard-Fort-Agra

[This article is excerpted from chapter 4 of Mises: The Last Knight of Liberalism. Reprinted from Mises.org] The Austrian School and the Gossen School With just two books, Menger had put economic and social thought on completely new foundations. Principlespioneered

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Carl Menger: Pioneer of “Empirical Theory” Part 1

Wednesday, January 28th, 2015 by posted in Banking, Capitalism, Economics, History.
st-johns-market

[This article is excerpted from chapter 4 of Mises: The Last Knight of Liberalism. Reprinted from Mises.org] Introduction The problems and ideas that moved Ludwig von Mises in his early years were addressed by the work of four great economic

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A Graphical Introduction to the Austrian Business Cycle Theory

Tuesday, January 27th, 2015 by posted in Banking, Capitalism, Economics, Regulation, Uncategorized.
Bear_Stearns_in_CanaryWharf_London

A Graphical Introduction to the Austrian Business Cycle Theory By: Gaurav Mehra Twitter: @GMehra_ Email: gmehra@alumni.uwo.ca   For a pdf version of this article: Intro to ABCT – Final   Business cycles, simply put, are the fluctuations of economic growth

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