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Bloomberg reports that the yield on more than $4  trilllion  of sovereign debt has turned negative.  Investors are now paying the Swiss government to borrow from them for longer than a decade and paying the German government to borrow for a  lustrum .  For all Euro-area nations, according to Bloomberg calculations, average yields on sovereign debt

A new survey by American Express reveals that 29 percent of Americans keep at least some of their “savings” in cash.  Overall 53 percent of cash holders stash their cash in a domestic hiding place.  Surprisingly, 67 percent of dollar bill and coin hoarders among the millennial generation secrete cash around their domicile.  A 2012 Marist College

In an  interview with CNBC today Danielle DiMartino Booth, a former adviser to recently retired Dallas Fed president Dick Fisher,  refers to Ludwig von Mises as  ”my long-departed hero.”  She notes that Mises ”coined the term malinvestment”  and “wrote about it extensively.”   She characterizes the housing crisis as a “very identifiable bubble”

The manager of one of Great Britain’s biggest bond funds, which has  £ 4 billion under management, is now advising investors that the time has come “to hold physical cash,” along with gold and silver.  He sees “systemic risk in the system” and is concerned that global debt, particularly mortgage debt, has been inflated to record levels by

In the past year I have noticed a gratifying trend among undergraduates interested in Austrian economics that bodes well for the future of Austrian economics as a challenger to the prevailing positivist orthodoxy for the title of “mainstream economics.” Here are a few examples of this trend in the past month. This past Thursday I was invited to

Over the past few years there has been an ongoing and productive dialogue over the viability of alternative strategies available to young scholars seeking to pursue a vocation in Austrian economics in academia. While there have been disagreements, most parties to the conversation have treated their opponents’ positions with respect and scholarly

The Forgotten Depression is a narrative history of the depression of 1920–21. Although it is informed by a very definite theory—the Austrian business cycle theory—it is not a standard work in applied economics. It does not first present the theory in a rigorous formulation and then move on to apply the theory by adducing pertinent qualitative

As several articles over the past few days have indicated ( here , here , here and here ), Italy is on the brink of a full-blown banking crisis. Bad debts, or “non-performing loans,” held by the banking sector total  360 billion euros, which is a remarkable 17 percent of all the outstanding bank loans in Italy and equal to about one-fifth of the

A bipartisan bill was just introduced by Senators Cory Booker (D, NJ) and Mike Lee (R, UT) aimed at preventing federal programs that were established to promote sales of agricultural products from being illegally used to attack competitors and influence public policy. The Commodity Checkoff Program Improvement Act of 2016 is a reaction to the

A recent op-ed piece in The New York Times urged the Republican Party not to “throw away free enterprise” and embrace populism. Arthur C. Brooks, the author of the article, makes two bold but erroneous claims. First, he asserts that populist moments throughout history — including the Trumpian moment in the US — are triggered by severe financial