Peter's Blog

With the dollar slipping and trade policy whiplash dominating the news cycle, it seems the American empire is under economic threat. It’s no wonder then that the Trump administration is so preoccupied with lowering interest rates; central banking, after all, is the key enabler of economic and military intervention, both at home and abroad. The […]

In a limping and heavily distorted economy, it’s easy to blame one group or demographic for “ruining the economy.” Caste analysis, in the tradition of the Austrian school, shows us that it’s not one specific demographic or class that’s to blame. Rather, the economy’s woes result from those who seize political power for selfish gain. […]

With the Fed cutting rates this month, free-market economists stand alone again in their condemnation of inflationary monetary policy. Despite recent years of high inflation, most economists still don’t appreciate the sinister and destructive effect inflation has on the economy, even in small amounts. The following article was originally published by the Mises Institute. The […]

Through its insistence on controlling the money supply, the modern state has turned coin clipping and rank monetary debasement into exalted progressive doctrine. The state’s printing of new money seems like a “free lunch,” but we all know that there’s no such thing. The following article was originally published by the Mises Institute. The opinions […]

Although Jerome Powell appears temporarily safe from President Trump’s ire, it’s only a matter of time before the pressure to cut rates will ratchet up on the Fed. Indeed, Trump– like all other politicians– wants low interest rates to facilitate ever-increasing deficits and obscure the faultlines in the economy.

Critics of the Fed are well-versed in arguments against central banking. It enables reckless spending and creates monetary confusion, and it distorts prices for consumers. History also reveals another troubling result of central banking: more frequent and deadlier war.

Whenever someone puts forward an idea for shrinking the federal budget, one of the first objections is that it will harm the poorest citizens most. Welfare spending, and other means of support are a massive part of the government budget, yet it doesn’t take a lot of insight to see that the government gives even […]

The Cantillon Effect, named after 18th-century economist Richard Cantillon, describes the way newly created money flows through an economy, affecting different sectors and social classes unevenly. When a central bank like the Federal Reserve injects new money into the economy—often through measures like quantitative easing or low interest rates—this money doesn’t distribute itself evenly. Instead, […]

True economic growth doesn’t come from inflation or regulation but from entrepreneurs who cut costs and drive industries forward. But as inflation quietly eats away, those who get the new money first enjoy a temporary gain, while everyone else suffers from rising prices and shrinking buying power.