Mises Search

Speech by Ron Paul (LRC): “Centralized planning is as disastrous in monetary affairs as in economic affairs. Just as Russian commissars could not determine prices or production levels in the absence of a free market, the Federal Reserve Board cannot determine the “proper” level for interest rates or the money supply. Our fiat currency and

The BBC says this morning that the Mexican jobless rate has soared , but if you are expected double-digit rates, the report goes on: “the base unemployment rate in June was 3.17%, up from 2.72% in May and 2.39% in June 2002,” while assuring us later that “the 3.17% rate almost certainly massively understates the real situation in the country,

And now the news reports are pouring out. Fed Gov. Bernanke sees rates as low as zero if need be (CNN.com; Reuters): Federal Reserve Governor Ben Bernanke said on Wednesday that the central bank would be prepared to cut interest rates all the way to zero if necessary to prevent a fall in inflation. Speaking to a university audience, Bernanke said

Snow Says Death of Saddam Sons Helps Economy (AFP): “The death of former Iraqi leader Saddam Hussein’s two sons helps the US economy by removing some uncertainty, Treasury Secretary John Snow said. Snow was asked by a Fox Television reporter for his reaction to Wall Street’s bounce after news of the deaths emerged. ‘Well, I think anything that

College Study Faults Anti-Alcohol Progam; DOE-funded Education Increased Drinking (WashPost): “An approach to alcohol awareness used by many of the nation’s colleges has largely failed in its efforts to curb students’ consumption by emphasizing that heavy drinking is not normal, according to a Harvard School of Public Health study released

Interesting report, courtesy of the AP , on a release by the National Conference of State Legislatures: During the 90s boom, state spending grew $556 billion or 88 percent, or 6.57% per year. In 1991, state spending was 9.8% of GDP; in 2001 it was 10 percent (virtually all owing to Medicaid, education, and prisons). State spending will go up again

New Reality is Leaving Growth in the Mire , by Louis Uchitelle (NYT): “For nearly 29 months, the nation has struggled through a recession and a weak recovery. That is a long struggle, a new form of hardship for many Americans, who are tantalized with incessant forecasts that a decisive upturn is about to happen. But as the months wear on, the

The BBC reports that the Bahraini communications company Batalco, and US-based VoEx, have set up in Iraq and started offering liimited cell phone service, even before the occupation government has issued licenses. “The Coalition Provisional Authority (CPA) said a week ago that it has asked companies to express interest in licences by 28 July, and

Fed Official: Few Signs of Recovery  (CNN.com): “Richmond Federal Reserve Bank President Alfred Broaddus said Friday there were good reasons to expect the U.S. economy to accelerate, but so far there are few clear signals. ‘There are a few signs in the recently released data that the recovery may be gaining strength,’ Broaddus said in remarks

Having backed the US catfish industry in its campaign to prevent Vietnamese catfish from being called what they are, US trade officials are complaining about a new plan by the EU to crack down on name usage.  The BBC reports that Brussels is taking a list of 35 food and drink names to the WTO meeting in September that the EU claims ought  be