Peter's Blog

Why Printing Money Doesn’t Create Prosperity

Mainstream economists often argue that increasing the money supply is necessary to stimulate economic growth. However, Austrian economists have long recognized that monetary expansion merely creates the illusion of prosperity while sowing the seeds of future crises. Printing money cannot create real wealth or productive resources, but instead distorts economic calculation and leads to malinvestment. […]

When Alan Greenspan Chose Power Over Principle

Alan Greenspan served as Federal Reserve Chairman for nearly two decades, presiding over the US economy during a period of significant growth and turmoil. While often portrayed as a stalwart defender of free markets, a closer examination of his career reveals a more complex picture. Greenspan’s ability to adapt his views and rhetoric to suit […]

Taxing Success, Rewarding Envy

The US tax system is often praised as a means of funding essential government services and redistributing wealth. A deeper analysis reveals that it is primarily driven by envy and resentment rather than a genuine concern for the common good. By pitting different groups against each other, the tax code fuels social division and undermines […]

AI Will Destroy Jobs? Good

The AI bubble has become a frequent fixture in the financial news cycle as pundits and institutions express their fear that, when it pops, it could drag the global economy into crisis. Central bankers and institutions like the Bank for International Settlements (BIS) are sounding alarms about debt-fueled AI investments, overexuberance, fragile funding structures, and […]

Profits are Just Good

Nearly all read distributive forms of government try to find some way to give moral justification for their poor economic choices. They assume that it will be easier for people to accept wealth redistribution if they can somehow prove that the wealthy are morally inferior. While like any group of people the wealthy have their […]

Fed Talks Tough But Money Supply Explodes Higher

Money Supply is a very important indicator. It helps show how tight or loose current monetary conditions are regardless of what the Fed is doing with interest rates. Even if the Fed is tight, if Money Supply is increasing, it has an inflationary effect. One key metric shown below is the “Wenzel” 13-week annualized money […]

The Entrepreneur as Practitioner/Philosopher

The divide between philosophy and action has continually widened for centuries. Particularly in the 20th century, when people began to believe that education for most people was applied skills training, and only the most theoretically inclined were encouraged to study ideas. Even for those who chose to study philosophy, their education was intended to prepare […]

The Return of Easy Money Is Fueling Higher Prices

The latest figures show the money supply growing at its fastest pace in over four years, with consumer prices climbing right alongside it. Yet the Federal Reserve continues to insist its policy stance is at least moderately restrictive, even as real wages fall further behind inflation. The following article was originally published by the Mises […]

Fed Projects Stickier Inflation; Gold Touches $4,365

On June 17th, the Federal Open Market Committee (FOMC) kept its federal-funds-rate target at 3.50–3.75 percent, repeating its wait-and-see stance even as headline inflation refuses to retreat to the central bank’s two-percent objective. In a unanimous 12–0 vote, policymakers argued that U.S. growth “is expanding at a solid pace” and promised, in their words, “The […]

The Real Danger of AI Isn’t Job Loss

Americans are increasingly anxious about artificial intelligence and what it means for their jobs, and politicians on both sides of the Pacific have begun promising to manage the transition. But the real question isn’t whether AI will displace certain jobs (that kind of creative destruction is the normal engine of economic progress); it’s whether the […]