Mises Search

The ECB has once again come to the rescue by cutting interest rates in order to forestall a collapse of the European economy. Also, in a “surprise” move, the Chinese central bank cut interest rates in response to a continuing slow down in economic activity. When the Skyscraper Index issued a European crisis signal last summer the European stocks

Economist and former Texas US Senator Phil Gramm recalls the budget sequesters in today’s Wall Street Journal : The president’s response to the sequester demonstrates how out of touch he is with the real world of working families. Even after the sequester, the federal government will spend $15 billion more than it did last year, and 30% more than

On the show Robert Blumen discusses the science of deflation and the price of gold.

Euros secretly airlifted to keep Greek banks afloat We are told that the worst is over in Greece. They have even achieved a balance in their primary budget . Not bad considering the US federal budget deficit is almost $7 trillion when you consider the value of entitlement obligations accrued in 2012 (over $1 trillion based on current spending and

Here is the link to a Bloomberg story that contains a link to the “60 Minutes” story. We have been following the story of this bubble for a while but nothing makes something “real” as when it turns up on “60 Minutes.” Economist Stephen Roach says that the ghost cities will someday be “thriving metropolitan areas.” He may well be right, but the key

Dear Murray: I need a copy of your book, The Panic of 1819 to send to my son so he can understand panics and similar phenomena. Sincerely yours, Howard Buffett Letter of Howard Buffett to Murray Rothbard I guess the book must have got lost in the mail. HT: AH & RW @

Paul Krugman is touting a new IMF study which claims that “austerity” increases the National Debt/GDP ratio. The study’s finding is that budget cuts in high debt countries leads to more borrowing because of shortfalls in GDP and tax revenues. This result hinges on the impact of fiscal multipliers. A large multiplier leads to a higher debt/GDP

David Howden reviews Daniel Kahneman’s book /Thinking, Fast and Slow/. Kahneman won the Nobel Prize in Economics, but is a psychologist. Its a very interesting review and Howden shows us the weakness in Kahneman’s

Many of you maybe celebrating St. Patrick’s Day with a cool glass of Ireland’s iconic beer: Guinness. Guinness is different from other beers because it is dark and creamy. It also has less alcohol. I did not know until very recently that the darkness and flavor come from the ingredient roasted barley. Most beers use malted barley which involves

Secrets and Lies of the Bailout by Matt Taibbi “The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to