In January, money supply growth hit a new all-time high, rising slightly above September 2020’s previous high, and remaining well above growth levels that one year ago would have been considered unthinkable. January’s surge in money-supply growth makes January the tenth month in a row of remarkably high growth, and came in the wake of unprecedented quantitative easing, central bank asset purchases, and various stimulus packages. Historically, the growth rate has never been higher than what we’ve seen over the past ten months, with the 1970s being the only period that comes close. It is likely that growth will…

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For all of the campaign and inauguration talk about “unity” and moderation, President Joe Biden is governing like a progressive on all fronts, from cultural issues to the armed forces to the economy. Biden’s unprecedented thirty-two executive orders his first week in office provide evidence he and his party intend to expand executive governance well beyond anything this country has seen in its long history. Furthermore, all his political appointments are people who fall well to the left of any kind of recognizable political center and who share the president’s…

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The bill’s supporters may talk about how it will give workers the ability to choose to organize at work, but much like the mafia, this bill will ensure that the choice to unionize is one that workers can’t refuse. Original Article: “The PRO Act Is Not Just a Union Handout—It’s an Assault on the Freedom of Association Itself” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.   Source link

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The media-government alliance has clamped down against the populist right harder than ever before. Yet, one can sense a hint of panic within establishment ranks that the threads of their dominance may finally be unraveling. Original Article: “Why the Capitol Riot Terrified the Elite” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.   Source link

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By some theories such as the Modern Monetary Theory (MMT), money originated on account of the government decree. Money according to the MMT is what the State decides it is going to be. Following the ideas of the German economist, Georg Knapp, the Modern Monetary Theory (MMT) regards money as a token. For instance, when an individual places a coat in the cloakroom of a theatre, he receives a tin disc or a paper receipt. This receipt or a disc is a proof that the individual is entitled to demand…

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The GameStop saga—can we call it an insurrection?—wants easy heroes and villains. Both are available. The populist version of the story goes like this: a few thousand angry gamers, colluding via the now infamous WallStreetBets subreddit, brought at least one powerful hedge fund to its knees. Melvin Capital and other short sellers, completely blindsided, lost a reported $5 billion in what must have seemed like a sure-bet opportunity for their model of vulture capitalism. Meanwhile GameStop, the plucky brick-and-mortar retailer thought to be going the way of Blockbuster Video, gained…

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