BankNotes Archive – May 2020

by Robert P. Murphy The latest report on new unemployment claims was abysmal, coming in at 4.4 million last week, some 100,000 more than surveyed economists had expected. The continuous claims came in at just under 16 million, an all-time record. Mainstream labor economists estimate that, all things considered, the actual … Read more

Content: Page 23-24 Becoming Your Own Banker Fifth Edition Now, let’s go back to our scene on John Doe’s policy – he has had it for a few years and the Directors of the company ask the accountants, “How did we do on John’s policy this year?” They say, “We … Read more

by Jeff Deist This text is excerpted from the introduction to Anatomy of the Crash, a Mises Institute ebook released in April 2020. The Great Crash of 2020 was not caused by a virus. It was precipitated by the virus, and made worse by the crazed decisions of governments around the world to shut … Read more

by Frank Hollenbeck In response to a likely worldwide recession, governments have turned on full blast the fiscal and monetary spigots. A $2 trillion spending plan has just been approved in the USA, central banks are on a buying spree, and the $1200 stimulus payment is just helicopter money. Since the … Read more

by Jeff Deist “South Dakota is not New York City.” A seemingly innocuous statement, made last Wednesday by Governor Kristi Noem in response to calls for her to issue a coronavirus shutdown across a state with the motto “Under God the People Rule.” South Dakota, after all, is one of the least densely populated states in … Read more

History has produced an almost endless supply of those who would remake society into the utopia they imagine. But in trying to mold people into what they must be to match dictators’ mental images, they forget that the ends actually achieved will not match their imaginations and that the means … Read more