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Doug French



Articles by Doug French

Today’s Negative Rates Are the Path to Poverty

17 days ago

Murray Rothbard wrote, “The rate of interest is the price of ‘time.’” It’s safe to say the world’s central banks have manipulated and mispriced what time is worth. Original Article: “Today’s Negative Rates Are the Path to Poverty” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.  

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The Weirdest, Most Distorted Economy Ever

29 days ago

The Fed is not allowing the economy to heal, but instead induces more distortions and weirdness. The explosion in orders for new trucks is perhaps just the latest example. Original Article: “The Weirdest, Most Distorted Economy Ever​​”. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros.  

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Central Banks Put Wind at Bitcoin’s Back

December 12, 2020

The central banks can be thanked for all bubbles, including those in cryptocurrencies. Original Article: “Central Banks Put Wind at Bitcoin’s Back​”. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros.  

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The Weirdest, Most Distorted Economy Ever

December 12, 2020

Between the Federal Reserve, Congress, and covid, navigating the business cycle is equivalent to sneaking through a house of mirrors. The stock market is making new highs as unemployment rates do the same. Thousands line up for free food and soon will do the same to be vaccinated. The nation’s governors tighten restrictions by the …

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Central Banks Put Wind at Bitcoin’s Back

December 10, 2020

“Russia, Russia, Russia,” the current president used to sarcastically chastise opponents for wondering about 2016 election tinkering from Putin’s principality. Recent MAGA rallies featured “Covid, covid, covid,” with President Trump complaining that the press could think of nothing else. In investmentland, it’s “Bitcoin, bitcoin, bitcoin,” again knocking on dollar door number twenty thousand, where it …

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The Rise of Mega–Gambling Facilities: A New Skyscraper Curse?

December 3, 2020

Circa casino’s new three-story, 78 million–pixel, high-definition screen in its sportsbook gambling compound may represent a new frontier in mega–building trends similar to those of skyscrapers. Original Article: “The Rise of Mega–Gambling Facilities: A New Skyscraper Curse?”. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

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The Rise of Mega–Gambling Facilities: A New Skyscraper Curse?

November 6, 2020

“This place is amazing,” gambler Steve Rogers from Tuscon told the Las Vegas Review-Journal. “If you’re into sports, this place is like Disneyland. That’s a wall of TV right there. I didn’t expect it to be this big.” The “wall” Rogers refers to is the new Circa casino’s three-story, 78 million–pixel, high-definition screen. “We’ve been …

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The Fed’s Balance Sheet May Be Headed to $40–$50 Trillion

November 5, 2020

If the current thinking continues, the world’s central banks will buy whatever paper governments issue. The result by the end of the decade will be a Federal Reserve balance sheet totaling $40 to $50 trillion.  Original Article: “The Fed’s Balance Sheet May Be Headed to $40–$50 Trillion”. This Audio Mises Wire is generously sponsored by …

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The Fed’s Balance Sheet May Be Headed to $40–$50 Trillion

October 30, 2020

President Trump has said often that he had “created the greatest economy the world has ever seen, until the China virus came.” Maybe some people believe that, but if the economy was so great why did the Fed keep interest rates at zero and its balance sheet at $4 trillion?  The president is bragging about …

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Can the Stock Market Protect Wealth Better Than Gold and Silver?

October 2, 2020

Trying to stay ahead of the government printing press is the modern citizen’s constant worry. There are no hard money central bankers, let alone politicians. Central bankers have stood the idea of present value on its head in attempts to stimulate dead economies and zombie enterprises while providing interest bills to governments with the possibility, although …

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How the CARES Act Is Still Kicking the Can

September 4, 2020

Despite double-digit unemployment rates, banks are keeping loan-loss provisions low, no doubt assuming Uncle Sam will keep everyone’s boat afloat. But all good things come to an end. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “How the CARES Act Is Still Kicking the Can​​”

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Why Homeowners Hate Real Estate Developers

September 3, 2020

Homeowners believe their property rights extend far beyond their property lines. They want to dictate who lives near them, how much money their neighbors make, and what the houses in their neighborhood look like. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Why Homeowners Hate Real Estate …

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Monetary and Fiscal Sorcery Make Home Price Magic

September 3, 2020

Make the money cheap enough and government intrusive enough, and incongruous headlines appear side by side. For instance, from the Las Vegas Review-Journal comes this head-scratcher: “Las Vegas Housing Market ‘on Fire’ as Economy Limps Along.” Almost Daily Grant’s reminds us the Federal Reserve is on the job 24/7/365, There’s more where that came from. Last week’s release of …

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How the CARES Act Is Still Kicking the Can

August 27, 2020

During Real Vision’s Daily Briefing of August 13, Ed Harrison asked rhetorically, “How is it possible for you to have a bull market, a new leg up in the business cycle when bank stocks, the traditional value cyclical trade are 30% off their highs? That’s not a signal of bull, it’s a signal of secular stagnation.” The …

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Why Homeowners Hate Real Estate Developers

August 26, 2020

On August 12 the president tweeted “The ‘suburban housewife’ will be voting for me. They want safety & are thrilled that I ended the long running program where low income housing would invade their neighborhood. Biden would reinstall it, in a bigger form, with Corey Booker in charge!” Commentators on MSNBC and CNN took issue …

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Stocks Always Go Up. Until They Don’t.

July 15, 2020

When confidence is extreme, there’s no scrutiny. There’s always a “this time it’s different” mindset, the belief that anything is possible. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Stocks Always Go Up. Until They Don’t.​​”

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Stocks Always Go up. Until They Don’t.

July 8, 2020

Economist Irving Fisher famously said just before the 1929 stock market crash, “Stock prices have reached what looks like a permanently high plateau.” Whoops. Fisher wasn’t just any old economist. Joseph Schumpeter called him “the greatest economist the United States has ever produced.” Milton Friedman and James Tobin agreed. After the sharp March COVID crash, …

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1918: A Study in How Disease Can Shape Public Policy

July 1, 2020

Did the hardliners win at Versailles because the Americans were too weak with the flu to object? If so, it would be just one way that disease profoundly affected public policy in the wake of the 1918 flu. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “1918: …

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As the Fed Pumps, the Stock Market Is Increasingly the Only Game in Town

June 30, 2020

In the midst of a stock market bubble like this one, everyone from Warren Buffet down to the shoeshine boy has some great tips for you.. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “As the Fed Pumps, the Stock Market Is Increasingly the Only Game in …

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As the Fed Pumps, the Stock Market Is Increasingly the Only Game in Town

June 27, 2020

While the economic storm caused by COVID-19 has seemed to wane (temporarily?), the stock market can’t seem to go but one direction—up. Graham and Dodd’s meaty 700-page Security Analysis has soared to number 7695 on the Amazon best-seller list. According to Warren Buffett, the book is “A road map for investing that I have now been following …

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1918: A Study in How Disease Can Shape Public Policy

June 19, 2020

I suppose the first I read of the Great Influenza was in the first few pages of the Charles Portis masterpiece True Grit. The book’s heroine, Mattie Ross, tells readers about Yarnell Poindexter, whom Mattie’s papa left at the farm to look after her mama and the family while he went to Fort Smith. Mattie …

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The Flexner Report and Our Modern Medical Cartel

June 18, 2020

The medical profession has long employed the state to pad doctor salaries and influence. Before the Flexner Report, mechanics made more than doctors and the brightest students avoided the profession to enter the clergy. Narrated by Daniella Bassi. Original Article: “The Flexner Report and Our Modern Medical Cartel​”.

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The Flexner Report and Our Modern Medical Cartel

June 10, 2020

Although we’ve been given a brief respite from COVID-19 pandemic news, it’s likely that the killer of over one hundred thousand so far in America will leap back to the front page and that continuous calls to flatten the curve will return to top of the mind. As a friend and fellow ex–University of Nevada …

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Pandemic Wagering: Tesla or Table Tennis?

June 2, 2020

One clue as to why the stock market has rebounded while daily economic news grows worse could be the flood of new punters betting on stocks, from high-flying tech shares to dead-in-the-water leisure stocks. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Pandemic Wagering: Tesla or Table …

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Some Insightful Entrepreneurs Planned for a Pandemic

May 7, 2020

Although many claim “nobody saw this coming,” some entrepreneurs planned ahead and also have found ways to cater to customers under new conditions. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Some Insightful Entrepreneurs Planned for a Pandemic”

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Some Insightful Entrepreneurs Planned for a Pandemic

May 7, 2020

Listen to the Audio ​Mises Wire version of this article. Does a pandemic trump entrepreneurial foresight? Many in business will say yes, “nobody saw this coming.” Lack of customer demand and government lockdowns are “no fault of their own.” But Penny Chutima, co-owner of the Lotus of Siam restaurant, did see it coming. Chutima and her …

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The Convention Center Bubble Will Soon Pop

April 21, 2020

The COVID-19 depression will expose the Las Vegas convention center bubble for what it is: a massive malinvestment. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “The Convention Center Bubble Will Soon Pop”

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The Convention Center Bubble Will Soon Pop

April 21, 2020

Listen to the Audio Mises Wire version of this article. The Las Vegas Strip continues to be a ghost town. The entertainment capital of the world is now a shadow of itself, boarded up by order of the state’s governor. Also sitting vacant is all of the city’s convention and meeting space, totaling 11.5 million …

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Builders in Denial

April 13, 2020

The year 2006 seems like a lifetime ago. The housing boom seemed to be going full throttle, but danger lurked. I wrote on LewRockwell.com in March of that year, concerning a Las Vegas real estate seminar, that “nary a discouraging word was spoken.” But despite the happy talk coming from the podium that day, pleasing the …

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