While the average person thinks economics begins with Adam Smith and his Wealth of Nations, readers of the Mises Wire know that the story goes back much further than that. Members of the Austrian school commonly describe their earliest intellectual predecessors, the...
The crash landing of the housing market continued in November. Existing home sales of just 4.09 million units at an annualized rate represented at staggering 37% drop from the 6.49 million rate posted in January. There has never been a drop this severe within a single...
I hate to gloat but, screw it. I’m gloating. With every FOMC meeting this year, Jerome Powell has become more and more hawkish, but the denial of this still dominates the headlines. He raised the Fed Funds Rate to 4.5% last week, a level unthinkable to nearly...
Last week, CNN featured a story called "Men are dropping out of the workforce. Here's why" The article went on to tell us virtually nothing at all about why so many men are leaving the workforce. Although as many as seven million men have stayed out of the workforce...
What is economics and why do we care about it? The economy is what we do and why we do it. Reality introduces scarcity to that equation, and competition results. Our desires and values translate into actions, and competition translates those actions into strategies...
It’s an economic article of faith among almost every school of economic thought that central banks raising interest rates curtails economic growth and lowering interest rates stimulates short-run economic growth. The problem with this assertion by nearly every...
So the talking heads of bubblevision think inflation is abating, but what about this: Federal revenues in November posted at $252 billion—10.3% below last November—while spending came in at $501 billion. And the latter included an ominous +53% rise in Federal debt...
The narrative to attack any tax cut and defend any increase in government size is reaching feverish levels. However, we must continue to remind citizens that constantly bloating government spending and increasing the size of monetary interventions are some of the...
