Category Archives: Capitalism
mises.org / Murray N. Rothbard / 12/26/2017 [This article is excerpted from An Austrian Perspective on the History of Economic Thought, vol. 1, Economic Thought Before Adam Smith.] By the beginning of the 17th century, royal absolutism had emerged victorious all over Europe. But a king (or, in the case of the Italian city-states, some lesser prince or ruler) cannot […]
Via Dana Lyons' Tumblr, The percentage of households’ financial assets currently invested in stocks has jumped to levels exceeded only by the 2000 bubble. Updating one of our favorite data series from the Federal Reserve’s latest Z.1 Release, we see that in the 3rd quarter, household and nonprofit’s stock holdings jumped to 36.3% of their […]
It is undisputed that the last 2 quarters have demonstrated an impressive jump in corporate earnings growth, if mostly due to a beneficial base effect from plunging 2016 earnings which pushed them below levels reached in 2014. And naturally, this rebound has been more than priced into a market which has seen substantial multiple expansion […]
Via KesslerCompanies.com, Secular stock-market bullish trends tend to accelerate as they mature. The last three big bull moves in the Dow Jones Industrial Average look very similar and suggest a near-term major correction. See below: DotCom Bubble: Global Financial Crisis: 'Everything' Bubble: It's different this time though.
mises.org / Marcia Christoff-Kurapovna / 11/14/2017 There long has been a persistent academic debate as to whether an “ancient economy,” referring mainly to Greece, even existed at all. In a field dominated by Marx, Marxists, the 19th century sociologist Max Weber, and such scholars of renown as Sir Moses Finley, the lingering image of the economic world of […]
From the latest Macro View by Bloomberg commentator and former Lehman trader, Mark Cudmore Equities Must Fear CPI Now the Fed Put Era Is Over A surprise in either direction from today’s U.S. consumer price index print is likely to hurt global stocks. For many years, in the wake of QE, we became used to […]