The Daily Economy
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Uncle Sam Trembles at a Chinese Whisper
With a mere whisper about reconsidering their investments in US Treasury bonds, Beijing rattled Wall Street and — if ever so briefly — raised our interest rates.
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Empire State Manufacturing-Sector Expectations Remain Strong
The Empire State Manufacturing Survey results tilt to the favorable side but raise enough concerns to warrant close monitoring of data related to the New York regional economy and the manufacturing sector nationwide.
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Bitcoin Should Be Welcomed as More Robust Than Fiat, Says Fed-backed Research
My theory: the paper is written for bankers and policy makers of an older generation who have heretofore ignored or dismissed crypto-based innovations. They might know something about money and banking. But they know next to nothing about computer science, digital resources, and cryptography. As a result, the paper speaks in the plainest-possible English about…
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What Would a Dotcom-Style Crash Look Like in the Cryptocurrency Space?
The bursting of bubbles can make insutries stronger.
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Deregulation Is an Anti-Racist Policy
Markets breed integrated communities. Go to any large city with a heterogeneous population (New York, Miami, Atlanta) and you see it in the everyday business life of the city. Commerce is what breaks down prejudicial barriers and brings people together. Deregulation in every area – from labor to immigration to medical provision to land use…
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Backdoor Censorship through Libel Law
We’ve fought too long and too hard against government encroachments to accept the slightest compromises to the firm principle of the freedom of speech. Trump’s threat is not about protecting truth against lies; it’s about government control over speech so that people who criticize the regime can be forced into silence.
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The Jones Act Needs to Set Sail
Enacted in 1920, the law’s purported benefits to national security remain to be seen, while the costs are glaring, as new research from the Mercatus Center elucidates.
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Government Cannot Be Trusted with Control of Money
Immediately following the inauguration in 1933, President Franklin D. Roosevelt focussed on what his advisers told him was the real problem: the fall in the prices of everything. The theory, which is completely wrong, is that falling prices were causing the fall in productivity. They believed that by boosting the prices of stocks and other…
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What Will Devaluation Mean To You?
Devaluation, or clipping the coinage, as the process was called in the days of the Robber Kings, is a subtle form of taxation. Like most other taxes, those imposed by this insidious method will be borne by the Forgotten Man.
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Dismantling the Myth of Scandinavian Exceptionalism
The capital stock built in the 19th century allowed countries like Sweden to finance generous welfare states. Socialist sympathizers overlook this point and put the cart before the horse.
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Bitcoin Creates Trust Where It Previously Couldn’t Exist
What Bitcoin and other blockchain-based cryptocurrencies do is allow transactions to happen in places where trust previously would not have been possible.
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Altcoins Are the Real Bubble, Not Bitcoin
More than 100 altcoins have valuations exceeding $100 million. These coins are pretty much useless, if bitcoin proponents who deny a crypto bubble are right.
