Information was recently released that both the Netherlands and Germany had discussions and planning meeting to investigate what to do if the Euro met its demise in 2012. According to the publication Market Oracle : The Dutch finance ministry prepared for a scenario in which the Netherlands could return to its former currency — the guilder. They
At the recent G-20 meetings the leaders of the world’s largest economies voted to approve a plan that will put depositor’s funds front and center to bail out banks during the next crisis. The Financial Stability Board drew up a resolution along the lines of Cyprus’s bail-in approach that uses depositor’s money to bail-out banks. Its called the
In aggregate American have done some minor repairs on their balance sheets. However, looking below the aggregates we find American getting less mortgage debt but even more consumer credit and credit card debt. Consumer debt peaked at almost $2.7 trillion during the Housing Bubble. This dropped back to about $2.5 trillion during the recession.
According to the World Bank, total expenditures for health care goods and services averages about 6-7% of GDP around the globe. There are about a dozen recognizable countries that spend more than 10% of GDP on health care, but far and away the biggest spender is the US with 17.9% and rising--more than 5% more than any other country and up from
The meltdown in oil prices has been touted in the media as the salvation of the consumer and business alike, the proverbial Rudolf the Red Nose Reindeer that saves Christmas. Other have correctly cautioned that the collapse in oil prices threatens certain high-cost producers, notably the shale oil producers in the US and Canada. Obviously, there
Subprime mortgages are a very small part of the overall mortgage industry in Canada. However, they are quickly growing from their small base. This in itself is not a sign of imminent danger, but it is a sign that the traditional mortgage business is tightening its lending standards and rejecting loans it previously accepted. The tighter government
When I went to the Oxford Union debates this past summer I was told by a veteran of the debates that I must have a joke in order to win over the audience. My attempt to win over the British audience was a success, but unfortunately my opening remarks are too close to the truth and in retrospect, are really not that funny: Mr. Chairman, I want to
It worth taking note that the United States government has just surpassed the $18 trillion mark. Of course, that is almost a symbolic mark given the avalanche of debt coming in the form of unfunded future liabilities. Most of these unfunded liabilities are related to promised spending on Social Security, Medicaid, and Medicare, but there are
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Guest Editor: Dr. David J. Rapp , Saarland University, Germany Call for Papers for a special issue scheduled for 2016 on “Business management and Austrian economics” Paper Submission Deadline: August 1, 2015 The subject “Business management and Austrian economics” examines the interrelations between business management and Austrian
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
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