And this morning, the Fed has deemed it necessary to lend, with no collateral, directly to businesses, thereby repeating in a worse form the very errors of Fannie and Freddie. Clowns with wrecker balls! Comments at the Washington Times are interesting. “Sounds like a great plan, who came up with that? Now I remember, it was
House rejects the bill . This is a magnificent repudiation of the Fed, the Treasury, Bush, Wall Street welfarists, inflationists, and stabilizers of all sorts. The costs of what the Fed has already done are going to be massive and felt for many years. But at least Congress has so far, and this time only, not participated in the evil. It’s a great
I’m asking because I really want to know. Is there any case in history that is often cited as an example of when stabilization policies actually worked to achieve their aims? I can’t think of anything off hand, except for obvious myth making such as FDR saved us from the Depression, etc. Are there any serious cases in history that offer a
Murray Rothbard used to joke that the United States should just get it over with and invade the whole world. It seems like the US has already done so. See the map. Just a few more countries to go, and troops will be everywhere on the whole
Several people have sent a link to this post on the Time Magazine effort to push national service. In an addition to violating liberties on a massive scale, this program would be a colossal waste. It will rob young people of their most important years early in life, taking them out of productive work and making them less able to offer anything to
In my hometown, the peace rallies are always sponsored by the Unitarians. Actually, it is they who are the participants too. This is not a highly heterogeneous group. In fact, you know them already: highly educated, ideologically driven according to conventional left-wing moorings, attracted to fashionable causes like global warming and the mortal
“They called him the Gorilla - the brawler known as the scariest man on Wall Street,” writes the Times about Dick Fuld, head of Lehman, and the story tells of his rise and fall. Most striking is this portrait posted outside Lehman offices for staff to post their comments on. Click here to see the picture and see the comment right above his head:
From Pillars of Prosperity, a speech from September 10, 2003 ( PDF and Hardcopy ) One of the major government privileges granted to GSEs is a line of credit with the United States Treasury. According to some estimates, the line of credit may be worth over $2 billion. This explicit promise by the Treasury to bail out GSEs in times of economic
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.