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Tag Archives: News

Carl Menger and the Sesquicentennial Founding of the Austrian School

There are few works in the history of economics that may be truly considered “revolutionary” and “pathbreaking,” in their starting premises, logic, and implications. But one that is in this category is Carl Menger’s Grundsätze der Volkswirtschaftsliche, his Principles of Economics in its English translation. This year marks the 150th anniversary of its publication in 1871. Menger’s work is often classified as one of the first formulations of the theory of marginal utility, along with the...

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The Upside of Lockdowns: More Saving

Something good is coming out of the covid lockdowns. Economist David Rosenberg released a special report via the eponymous Rosenberg Research, concluding “the pre-COVID-19 ‘norm’ of a 7% personal savings rate will morph into a post-COVID-19 norm of 10%.” Rosenberg makes frequent TV appearances after he was chief North American economist at Merrill Lynch in New York from 2002 to 2009, when he was consistently included in the Institutional Investor All-Star analyst rankings. From there he spent...

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Short Sellers Achieve Their Goals….

A Pfennig For Your Thoughts January 14, 2021 * Gold & Silver get sold once again on Wednesday* A Big day of economic data tomorrow, will the markets care? Good Day… And a Tub Thumpin’ Thursday to you! The sun did make a short time appearance yesterday, as clouds owned most of the skiy for most of the day. It’s important to the Florida Chamber of Commerce that the sun made an appearance (for about an hour). That way the Chamber gets to count it as a day with sunshine. They love to call...

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Behind the Headlines of Record Gold Stocks in London Vaults

According to the London Bullion Market Association (LBMA), there are now record gold stocks of 9450 tonnes held in the London vaults. While trumpeting record gold holdings may grab headlines, it’s a misleading claim if, as appears to be the case, only a tiny fraction of these total gold holdings are available to ‘back-up’ the gigantic fractionally-backed LBMA paper gold trading scheme. Continue reading… Post Views: 4

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Food Prices Soaring

By: Robert Wenzel The latest data from the Bureau of Labor Statistics shows twelve-month food prices climbing at a 3.9 percent annualized rate for 2020. Overall price inflation for the same period, as measured by the government’s Consumer Price Index, rose 1.4 percent. Bottom line: the goods people are buying during this lockdown period such as food are soaring. The advance in food prices was pretty much across the board. All subcategories from cereals to fruit showed gains far in excess...

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There Is No Such Thing as Treason

“Treason” is quickly becoming a favorite word among Washington politicos and their media allies. One need not look hard to find countless examples. For example, a late-night talk show host called the January 6 Capitol riot the “treason finale” of the Trump era. A Washington Post columnist concludes “the founders” would have “denounced it as treason.” The Mayor of New York says Trump is guilty of “treason” for his supposed role in the riot. What is perhaps surprising about the use of the word...

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How the State Preserves Itself—and What the State Fears

Once a State has been established, the problem of the ruling group or “caste” is how to maintain their rule.1 While force is their modus operandi, their basic and long-run problem is ideological. For in order to continue in office, any government (not simply a “democratic” government) must have the support of the majority of its subjects. This support, it must be noted, need not be active enthusiasm; it may well be passive resignation as if to an inevitable law of nature. But support in the...

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Surviving Tech Purges: What We’re Doing at the Mises Institute

The Mises Institute was born of the “build your own platform” ethos. In the early 1980s few outlets existed for anyone interested in the Austrian school of economics or robust libertarian scholarship. Few universities taught Hayek, much less Mises or Rothbard. Libraries and bookstores carried little of interest for serious economists and thinkers in the old liberal tradition. Lew Rockwell and others set out to build an institutional home for the Austrian school, and to resuscitate Mises as...

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Is 2021 an Echo of 1641?

If you don’t discern any of these dynamics in the present, what are you choosing not to see? The reason why history rhymes is that humanity is still using Wetware 1.0 and so humans respond to scarcity, abundance and conflicts over them in the same manner. I am struck by similarities between the conflict-torn mid-1600s and the present:global climate change (The Little Ice Age in the 1600s), political upheavals and wars which intertwined civil and imperial conflicts. Global Crisis: War,...

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