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Starting in July, the Federal Reserve will be rolling out a new payment service dubbed “FedNow.” Among many on the dissident side of politics, there is a growing worry that this new service may be a trojan horse for a central bank digital currency (CBDC). The concern is a valid one. A CBDC, depending on how it is implemented, could eliminate the

Austrian economics properly understands the ability of commercial banks to create money by mismatching their depositor liabilities with their issuing of money substitutes (i.e., the creation of credit). One possible place for further exploration is the role that nonbank or foreign financial institutions play in the creation of credit and the

Most students in America are introduced to the writings of Upton Sinclair. While they aren’t shown his incredible cover-up of the Holodomor or his other Soviet apologisms, they are presented with his most famous work: The Jungle . This work tells the tale of Sinclair’s investigation into the wretched working conditions of the meat-packers of its

Ludwig von Mises is known for his theory of the business cycle and his development of praxeology, but he is best known for discrediting socialism. This critique is found in Economic Calculation in the Socialist Commonwealth (Mises 1990) and Socialism: An Economic and Sociological Analysis  (Mises 1951). In a similar vein is a work written near the

The raid on an Amish family farm is the direct result of government protectionism of big agriculture through needless and cumbersome regulations. Amos Miller is an Amish farmer in Pennsylvania who has become a thorn in the side of the State of Pennsylvania and the federal government for his selling of raw milk and other unregulated products.

Ibram X. Kendi, the controversial author of How to Be an Antiracist , has been revealed as not only a hustler of horrid ideas but also a poor businessman. Kendi was appointed the head and founder of Boston University’s Center for Antiracist Research in 2020 following the aptly named “summer of love,” which saw riots in most major cities over calls

Seemingly coming out of nowhere was the song “Rich Men North of Richmond,” by singer-songwriter Oliver Anthony. Overnight, the laments of one man from Appalachia over the state of the American economy and government spread like wildfire. In “Rich Men North of Richmond” Anthony decries the declining value of the US dollar, the lack of

The most common news to come out of the Federal Reserve is the result of FOMC meetings and changes to the Federal Funds Rate. Jerome Powell has made news with his aggressive rate hikes that some fear will topple the economy. However, how they raise and change the Federal Funds Rate has changed over time. If one is to offer proper analysis of the

Among the most persistent of myths in the sphere of economics is of the supposed benefits of government spending in the economy. Apologists will  include government spending in gross domestic product measures, as if government production is truly “productive.” A common argument in favor of government spending is national defense spending. US

The Consumer Price Index numbers have recently come in with a slight decline to 3.1 percent YOY in January 2023. This is down from a peak in June 2022 of 9.06 percent inflation. Federal Reserve officials laude this as a victory. “Inflation has been conquered! Long live rate cuts!” they cry. The possibility of rate cuts has been touted after the