Money-Supply Growth Hits a New All-Time High in January

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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A Primer on Progressive Thinking

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 PRO Act Is Not Just a Union Handout—It’s an Assault on the Freedom of Association Itself

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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Why the Capitol Riot Terrified the Elite

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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If you got a voucher for canceled plans, now is the time to use it

Amid the coronavirus pandemic, many flights are canceled at Orlando International Airport in Florida on March 24, 2020. Stephen M. Dowell | Orlando Sentinel | Getty Images One year ago, I booked round-trip tickets on Frontier Airlines for a vacation in Florida. When the coronavirus outbreak grounded our plans, I was issued a voucher — good for three months. Like me, an overwhelming majority of Americans shortened, postponed or canceled their plans in 2020.  Most were also issued vouchers or credits good for a future date. Twelve months later, those credits…

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Gap (GPS) reports Q4 2020 earnings, 2021 sales outlook

A man walks past a store on January 12, 2021 in New York City. Angela Weiss | AFP | Getty Images Gap Inc. on Thursday predicted a bounce back to sales growth in 2021, hopeful that customers will soon return to its stores and spend more money on apparel as they look to resume some social activities. Its shares shot up more than 4% in after-hours trading. The apparel maker reported fourth-quarter sales that came up short of estimates, as the ongoing coronavirus pandemic forced temporary store closures in Europe,…

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Will I need proof of vaccine to travel abroad

As vaccination rollouts gather pace around the world, attention is now turning to vaccines of another kind: vaccine passports. Last week, the International Air Transport Association (IATA) announced the launch of its new digital travel pass as “the way forward” in resuming quarantine-free international travel. The app, which is so far being trialed by 30 carriers, will allow governments and airlines to collect, access and share encrypted information related to passengers’ Covid-19 test and vaccination status prior to travel. Both the International Chamber of Commerce and the World Economic Forum…

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Airlines changing business to answer post-pandemic demand for holidays

A picture taken on February 28, 2021 shows palm trees on the empty “Promenade des anglais” in Nice, on the French riviera. VALERY HACHE | AFP | Getty Images LONDON — Airlines in Europe are looking at sunshine and beaches as their route to making money again. The sector has been severely hit by the coronavirus pandemic, with people being advised to stay at home. Lufthansa said on Thursday that it registered a 75% drop in the number of passengers between 2019 and 2020 — highlighting the devastating impact experienced…

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Is Money a Creation of Government?

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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Playing Games with Stocks | Mises Wire

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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