Have you ever noticed how some countries always seem to be having debt crises? For some inexplicable reason they are often in an economic crisis and fail to meet their debt obligations. Sometimes a nation like Argentina resorts to issuing hundred-year bonds, taking on International Monetary Fund (IMF) loans or undertaking other restructuring
The stimulus packages being handed out across this world provide us with an opportunity to document the anticapitalist process as it unfolds in real time, keeping in mind that when these inflation schemes fail, it will likely be blamed on capitalism. My previous article discussed the $600 billion Main Street Lending Program (MSLP), which is very
April’s Federal Open Market Committee (FOMC) meeting did not offer many surprises and the targeted federal funds rate remained unchanged at 0 to 0.25 percent. Until recently it was the Committee’s interest rate decision which held the interest of the populace, but given the newly created billion-dollar lending programs, Main Street has been given
On Tuesday in an interview with Reuters, the chief economist of the International Monetary Fund (IMF), Gita Gopinath, said that one hundred countries seek pandemic aid. This was only a few weeks after the managing director of the very same IMF, Kristalina Georgieva, said in an emergency statement that the IMF is ready to deploy all of its $1
On April 15 , the Federal Reserve released its latest Beige Book . This is the third of the eight yearly Beige Books, which are released prior to scheduled Federal Open Market Committee (FOMC) meetings. The book is just under thirty pages long and provides a “ summary of commentary of current economic conditions ” for the period from February
The ascent refers to the difficult climb nations face as they “come back from the depths of crisis.” It promises to be “long, uneven and uncertain,” as explained by the International Monetary Fund (IMF) Managing Director Kristalina Georgieva, at an event hosted by the London School of Economics (LSE). This “path forward” for the 189 member
Tuesday’s speech by Fed Chair Jerome Powell began with the usual nod to the pandemic for making life difficult for the masses, followed by the various pats on the back for the central bankers and what they have done in fighting the problems caused by COVID. Powell even praised the government, noting “the fiscal response was truly extraordinary,”
With all the history, lore and media spotlight the Federal Reserve receives, how many people stopped to ask: What is the Fed’s purpose? According to their website’s FAQs , the Federal Reserve system exists to: provide the nation with a safer, more flexible, and more stable monetary and financial system. It aims to carry this out through free
“We are in a good place at the moment,” the head of the European Central Bank (ECB) told reporters on Thursday. And so concluded another ECB rate decision, to no one’s surprise, as quoted in the Wall Street Journal : The ECB said in a statement Thursday that it would continue to purchase €1.35 trillion ($1.54 trillion) of government and corporate
Inflation, spending, and debt! Apparently, increasing these are the only way to restore normal market functions. Last week, in a speech called Navigating Monetary Policy through the Fog of COVID , Governor Lael Brainard, while explaining how the Fed aims to restore the flow of credit to households and businesses, extolled the virtues of
What is the Mises Institute?
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.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.