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Central banks do not manage risk, they disguise it. You know you live in a bubble when a small bounce in sovereign bond yields generates an immediate panic reaction from central banks trying to prevent those yields from rising further.

In February, money supply growth hit yet another all-time high. February's surge in money-supply growth makes February the eleventh month in a row of remarkably high growth, and came in the wake of unprecedented quantitative easing, central bank asset purchases, and various stimulus packages. During February 2021, year-over-year

[Chapter 11 of Rothbard's newly edited and released Conceived in Liberty, vol. 5, The New Republic: 1784–1791.] Massachusetts suffered particularly from the economic aftermath of the Revolutionary War as its fisheries trade was cut off and its exports to the West Indies were sharply

For many months, the governments of European Union have made it clear they view the distribution and administration of a covid-19 vaccines as a public policy priority. Whatever one may think of the vaccines, the fact remains Europe’s regimes think

After climbing to 12.2 percent in April last year, the yearly growth rate of combined commercial bank real estate and consumer and business loans plunged to –2.6 percent in early March. For most commentators an important factor in setting economic prosperity in motion is

Austrian economics provides new insights into value: what it is, how it is created, and who creates it. The insights are summed up by Professors Per Bylund and Mark Packard in our E4B podcast episode #108 (see Mises.org/E4B_108). One of

If deficits don't matter, why bother with taxes? The regime has the answer: taxes are important for punishing people we don't like, rewarding our friends, and for maintaining control over the public.  Original Article: "If Deficits Don't Matter, Why Bother with

If we’re going to ask ourselves what might have caused such an unusually large rise in homicide, we ought to look for very unusual events. Covid lockdowns certainly fit the bill.  Original Article: "Homicides Are Way Up in 2020, and Covid

The Clark County Commissioners voted recently to rename McCarran Airport to Harry Reid International Airport. The vote was unanimous among those who rule the Las Vegas Strip. The public doesn’t understand why Las Vegas International Airport wouldn’t do if McCarran’s past

Do not believe government pronouncements that the economy is rebounding from very minimal damage caused by unprecedented covid-19-inspired closures of businesses. Government will use its favorite statistic of the health of the economy to justify its actions—gross domestic product (GDP). GDP