Thursday , November 23 2017
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Mises Institute USA

Do We Really Need a Federal Ban on Horse Meat?

For decades in the United States, turkey has become the centerpiece of the Thanksgiving meal. Some eccentrics may offer other choices, such as roast beef or duck, but nowadays, it's a sure bet that few households will be offering horse meat as one of Thursday's featured dishes. Horse meat has largely disappeared from the Western diet, and not even our pets eat much horse anymore.In the United States, however, this flight from horse meat has been helped along by the federal...

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Are Markets Really as Calm as they Seem?

Indicators for financial market "stress" have reached their lowest levels in decades. For instance, stock market volatility has never been this low since the early 1990s. Credit spreads have been shrinking, and prices for credit default swaps have fallen to pre-crisis levels. In fact, investors are no longer haunted by concerns about the stability of the financial system, potential credit defaults, and unfavourable surprises in the economy or financial assets markets. How...

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Why Are People Buying Bonds with Negative Yields?

Bloomberg reports an astonishing bit of interest rate news from France. Mark Gilbert reports,French utility Veolia Environnement SA is one of a handful of low-rated borrowers — assessed at BBB or lower by Standard & Poor's — with fixed-rate debt repayable in three years or longer that trades at yields below zero in euros.Fleckenstein Capital LLC put it this way,Sacré BBB-leu!Yesterday a Parisian BBB-rated company (i.e., quasi junk) issued $500 million in three-year notes...

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Thanksgiving: Celebrating the Birth of American Free Enterprise

This time of the year, whether in good economic times or bad, is when Americans gather with their families and friends and enjoy a Thanksgiving meal together. It marks a remembrance of those early Pilgrim Fathers who crossed the uncharted ocean from Europe to make a new start in Plymouth, Massachusetts. What is less appreciated is that Thanksgiving also is a celebration of the birth of free enterprise in America.The English Puritans, who left Great Britain and sailed across...

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Freedom for Television and Radio

There is one important area of American life where no effective freedom of speech or the press does or can exist under the present system. That is the entire field of radio and television. In this area, the federal government, in the crucially important Radio Act of 1927, nationalized the airwaves. In effect, the federal government took title to ownership of all radio and television channels. It then presumed to grant licenses, at its will or pleasure, for use of the channels...

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Venezuela’s Default Disaster

Socialism always promises heaven and gives hell.In the early hours of Thursday, November 2, the Maduro regime certified its latest failure with what they promised would never happen: technical default. With his usual arrogance, Maduro issued a “decree” demanding “the refinancing and restructuring of the debt as of November 3.” That is, default.The bad news for investors or high-yield hunters is that the likelihood of being swindled again is almost 100%.Chavez once said “put...

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The Daily Hell of Life in the Soviet Bloc

This month is the 100th anniversary of the Communist Party’s seizure of power in Petrograd, Russia. British Guardian columnist Paul Mason recent declared that the Soviet revolution provided “a beacon to the rest of humanity, no matter how short lived.” The New York Times has exalted the Soviet takeover in a series of articles on the “Red Century” – even asserting that “women had better sex under communism” (based largely on a single dubious orgasm count comparison of East and...

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We’re Living in the Age of Capital Consumption

When capital is mentioned in the present-day political debate, the term is usually subject to a rather one-dimensional interpretation: Whether capital saved by citizens, the question of capital reserves held by pension funds, the start-up capital of young entrepreneurs or capital gains taxes on investments are discussed – in all these cases capital is equivalent to “money.” Yet capital is distinct from money, it is a largely irreversible, definite structure, composed of...

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Lyndon Johnson’s Terrible Legacy

Recently my wife and I spent a morning at the Lyndon Baines Johnson Presidential Library in Austin, Texas. The damage done by this big bully is incalculable. His library reminds us of the start of the blizzard of government expansion during Johnson's presidential term, which lasted from the Kennedy assassination in October 1963 to his decision not to run for a full second term in 1968, which usually is attributed to his failure to end the war in Vietnam.Johnson was an admirer...

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Chris Calton: The March to America’s Civil War

11/17/2017Chris CaltonJeff DeistChris Calton, host of the Mises Institute's Historical Controversies podcast, is back with a second season. If you enjoyed his revisionist view of America's drug war during the first season, you'll love his take on U.S. history during the latter 1800s. This episode, titled "The March to America's Civil War", is a fascinating account of the antebellum era.Tune in and find out why this podcast series is creating one of Stitcher's fastest growing...

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