News
The Fed Does Nothing
2+ hour, 13+ min ago (281+ words) Dr. Jonathan Newman joins Tho and Connor to discuss Jerome Powell's favorite type of FOMC meeting: a boring one. No cuts, no concerns, no drama in the eyes of the soon-to-be-former Fed Chair. On this episode, we try to bust…...
The 1929 Financial Thriller and the “We Can’t Help Ourselves” Theory of Financial Mania
1+ day, 14+ hour ago (530+ words) While not implausible, the account is definitely mesmerizing. With hefty callbacks and background histories to the main portrayal of the year, we get a golden piece of Wall Street history plus contemporary financial tactics'everything from boiler room scams to short…...
Making Sense of Historical Data
3+ day, 14+ hour ago (661+ words) highly-complex models to a simple display of historical data. It is generally held that, through establishing correlations, one can organize historical data into a useful body of information, which, in turn, could serve as the basis for the assessment of…...
Gold Exports, Trade Deficits, and Tariffs
5+ day, 10+ hour ago (1656+ words) Bob responds to James Rickards" recent tweet on record U.S. gold exports driving an improved trade balance, walking through the official data on non-monetary gold, Trump-era tariff uncertainty, and the broader question of what chronic trade deficits really mean in a…...
New Entries in the History of Hyperinflation
1+ week, 2+ day ago (371+ words) I link to the previous episode on hyperinflation from September of last year. I also link to the episode on the gold silver ratio from May of last year. While the difficulties of measuring price inflation under hyperinflation (and sometimes…...
What Is the Role of Probability in Economics?
1+ week, 3+ day ago (402+ words) In his writings, Ludwig von Mises labeled this type of probability as a class probability. According to Mises, Class probability means: we know or assume to know, with regard to the problem concerned, everything about the behavior of a whole…...
Inflation: A Dirty Word for "Accommodation"
1+ week, 4+ day ago (1228+ words) As a "stealth tax," inflation requires no legislation to impose, no agency to collect, and diverts responsibility for damages onto politicians" favorite whipping boys. It gives government the ability to buy almost anything for nothing, while creating endless problems that…...
More than one-quarter of upside-down trade-ins are $10,000 or more underwater.
1+ week, 6+ day ago (144+ words) Auto loan delinquencies are rising and the average amount owed on underwater trade-ins hit an all-time high of $7,214. Auto loan delinquencies are rising and the average amount owed on underwater trade-ins hit an all-time high of $7,214. As Murray Rothbard warned…...
Keynes’s Intellectual Dishonesty and Chartalism
1+ week, 6+ day ago (458+ words) Whether or not the Menger-Mises monetary theory is true, it is usually mocked and ridiculed before being dismissed by MMT proponents. For example, take Wray's comments'which includes strawmen'regarding the theory of barter leading to generally-accepted media of exchange, The point…...
The United States v Jerome Powell
2+ week, 14+ hour ago (182+ words) On this episode of Power and Market, Ryan, Connor, and Tho discuss the reported probe into Fed Chair Jerome Powell. Is this actual accountability for malfeasance, or a petty battle of DC egos? At the end of the day, does…...