When Ludwig von Mises first arrived in the United States after escaping from Nazi Europe, and pretty much up until the present day, he was essentially ignored by the mainstream economics community in the United States. It was only through the assistance of American businessmen that he was able to get a job teaching at [...]

Back in July, I sent letters to Barbara Boxer and Dianne Feinstein urging them to support or even cosponsor S.604, the Audit-The-Fed bill. I received the typical mealy-mouthed responses (posted below after the fold), and like a bad blogger I never actually mentioned the responses here. How mealy-mouthed was Boxer’s response? Well, [...]

The Fed is tasked with the dual goals of price stability and restraining inflation. Folks like myself would suggest it hasn’t done a very good job of either, but that’s not crucial to the question of whether we should be able to determine how they’re attempting to fulfill their mission.
Particularly irksome when we’re talking [...]

Obama says that he won’t sign a healthcare bill that adds one dime to the deficit. I hope he’s right about that, because the people who are financing that deficit are a tad bit worried about the prospect:
And yet, there was budget director Peter Orszag rushing to a lunch with Chinese bureaucrats on a [...]

Continuing his George Costanzaesque presidency, Obama has decided to reappoint Ben “Helicopter” Bernanke to another term on the Fed.
Here’s what Obama had to say:
Ben approached a financial system on the verge of collapse with calm and wisdom; with bold action and outside-the-box thinking that has helped put the brakes on our economic freefall
I thought it [...]

Below is the text of a letter I’ve sent to Senators Barbara Boxer and Dianne Feinstein. H.R. 1207 (introduced by Ron Paul) and S. 604 (introduced by Bernie Sanders) is a bill that requires the Comptroller General to audit the Fed and report back to Congress within the next 18 months. Given that [...]

Since Barack Obama has decided to continue down the path George Bush started down,  the path of Robert Mugabe and Friedrich Ebert, the United States economy will soon be facing all the problems associated with inflation.
Unfortunately, the effects of inflation are poorly popularized, meaning that most people have a very limited understanding of inflation.  As [...]

I disagree with Schiff on hyperinflation; but we’re DEFINITELY going to be seeing significant inflation. I’m thinking 1979 levels or so.

Note: Schiff is also a firm believer in the inherent value fallacy; which is just that, a fallacy. There is no such thing as a stable currency, because nothing has inherent value. All value is [...]