According to the U.S. Treasury, year-end data from September 2023 show that the deficit for the full year 2023 was $1.7 trillion, $320 billion higher than the prior year’s deficit. As a percentage of GDP, the deficit was 6.3%, an increase from 5.4% in FY 2022. This means that the United States will likely post the worst GDP growth excluding debt
Saudi Arabia could flee to gold or cryptocurrencies to escape the money-printing machine, but it won’t replace the US dollar with an inferior fiat currency. Original Article: “ Why Saudi Arabia Won’t Abandon Dollars for Yuan “ This Audio Mises Wire is generously sponsored by Christopher
Some blame high prices, wages, the Ukraine war, or the weak recovery. The fact is currency destruction is at the heart of generalized price rises everywhere. Original Article: “ Commodities Do Not Cause Inflation. Money Printing Does. “ This Audio Mises Wire is generously sponsored by Christopher
If the private sector does not accept a currency as a general means of payment and a store of value, the currency becomes worthless and ceases to be money. Ultimately, it becomes useless paper. Original Article: “ When Fiat Currency Stops Being Money “ This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael
As inflation becomes more obvious, governments will be blaming businesses for causing the inflation that policymakers have fueled. This is a step on the way to price controls. Original Article: “ Inflation-Loving Governments Are Now Blaming Private Businesses for Inflation “ This Audio Mises Wire is generously sponsored by Christopher Condon.
Did you feel happy when the government gave you a check paid with printed money? Watch now as your daily groceries, gas and power become unaffordable. Original Article: “ How Governments Expropriate Wealth with Inflation and Taxes” This Audio Mises Wire is generously sponsored by Christopher
There are hundreds of headlines all over the news warning of the negative impact of a government shutdown. The negative impact on GDP, according to Bloomberg, is estimated at 0.5% of the quarterly annualized rate if the shutdown lasts for two weeks. Obviously, that is an annualized rate, not the overall hit. The last government shutdown lasted
Although the Federal Reserve and the European Central Bank’s message regarding interest rate cuts seems clear, reiterating their commitment to reducing inflation, the market is expecting between five and six interest rate cuts, between 125 and 150 basis points, in the next twelve months. This shows us the bubble bias of many investors. We live in
The summit of the so-called BRICS (Brazil, Russia, India, China, and South Africa) has closed with an invitation to join the group extended to the Emirates, Egypt, Iran, Saudi Arabia, Argentina, and Ethiopia. The summit has generated a lot of headlines about the impact of this widespread group of nations, including speculation about the end of the
The eurozone economic figures show the risk of stagflation, and the short-term impact is clear in Germany and France, but it extends to the rest of the countries. Why has the eurozone lagged the United States and other developed economies in recent years? The enormous stimulus packages, including the 2009 Growth and Job Plan, the Juncker Plan, the
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.