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Almost Daily Grant’s ( ADG) made the pronouncement on December 14th that a “new benchmark in financial repression” had been set: ”a record $18.4 trillion in global debt is priced to yield less than zero, up from less than $8 trillion in March and a five-year average of $10.3 trillion.” ADG consulted interest rate historians Sidney Homer and Richard Sylla, who opined, “nominal negative yielding debt had never been seen in material size in the 4,000 years of interest rate history prior to the current cycle.” Economist Ludwig von Mises never imagined such a thing, writing in  H...

Almost Daily Grant’s ( ADG) made the pronouncement on December 14th that a “new benchmark in financial repression” had been set: ”a record $18.4 trillion in global debt is priced to yield less than zero, up from less than $8 trillion in March and a five-year average of $10.3 trillion.” ADG consulted interest rate historians Sidney Homer and Richard Sylla, who opined, “nominal negative yielding debt had never been seen in material size in the 4,000 years of interest rate history prior to the current cycle.” Economist Ludwig von Mises never imagined such a thing, writing in  H...

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Following Classical Economics   Share Trending The Wealth of Nations, 1776), Jean-Baptiste Say ( A Treatise on Political Economy, 1803), James Mill ( Commerce Defended, 1808), David Ricardo ( Principles of Political Economy and Taxation, 1817), John Stuart Mill ( Principles of Political Economy, 1848) and Ludwig von Mises ( Human Action, 1949), would concur with this notion – the reduction of taxes increases revenue.  Steven Kates explains how “Reductions in taxation have a different effect on economic outcomes and can be consistent with classical principles of generating economic grow...

by Frank Shostak via Mises By a popular way of thinking, it is the role of the central bank to make sure that economy follows a path of stable economic growth and prices. The economy is perceived to be like a spaceship that occasionally slips from this trajectory. Following this way of thinking when economic activity slows down and strays from the path of stable economic growth and stable prices, it is the duty of the central bank to give it a push, which will put it back on track. The push is given by means of a loose monetary policy, i.e., lowering interest rates and raising the growth r...