Mises's theory of the business cycle. In a nutshell: Because of government restrictions on the normal operation of a competitive industry, commercial banks are able to expand their issue of fiduciary media by extending more loans to the community, even though there has been no increase in genuine saving. Because this increase in the quantity of money hits the loan market first, it temporarily depresses the market rate of interest, while other prices in the economy have not yet fully adjusted to the infusion of new money. Guided by the false and artificially low interest rate, entrepreneurs see apparently profitable business ventures and invest accordingly. However, the actual time preference in the community is unchanged. This means that the entrepreneurs are making bad investments - what Mises calls malinvestments - in devoting their capital into a specific configuration of capital goods that is not calibrated to the consumers' desired timing of consumption goods. By effectively trying to employ longer production processes than the consumers are willing to endure, the entrepreneurs end up squandering resources and impoverishing the community, at least relative to the baseline with no interference from the commercial banks.

Bob Murphy

Good Morning Nostr 🧡⚡

GrapheneOS guide almost done and will be out in a day or two.

Super excited about this one, it's the most enjoyable (and longest) piece I've written for a long time!

Dogs are simps.

Don’t do that. If you’re going to eat it everyday, choose high quality sugars and call it a gift from god, not poison.

Sure everyday not great to consume sugar. But once a week isn’t going to kill you. All about moderation.

Atm I am no consuming any carbs or sugar except the natural sugar in milk.

Ladies Ginger Beards yes or no? #babechain nostr:note1hcr2nkkzc0lv9u09l0lwzgzgdwew03wr6q3dg8vtvcwzxfhl4kcqda8vx0

If this is really you Oliver, I wish you a warm welcome to Nostr and alot of success.

Nice songs. Very talented young man, great lyrics pinning down the problems of our age.

I think the high vitamin c concentration has its health benefits as well. But imagine it’s orange juice that’s from ripe oranges grown in season.

Most orange juice in supermarkets has chemicals added to make it last longer. Likely from oranges that are grown in gmo fields.

Sounds about right

I’m learning what makes this is platform so special is that it’s turgid with brilliant minds at the cutting edge. Developers — drop a comment for what you’re working on (and a simple explanation), and I’ll pick the most interesting and give them 150,000 sats. I’ll let this go for a few hours before choosing. Have to run for now. See you soon! Post away!

Is #zapathon on Fridays as well?

Or are damus users just celebrating 😂

that's the fake RFK 😆 it's probably the same scammer running both.

Good night nostr. 🫂

📽️ Taken in Boise National Forest, Idaho. One of my better nighttime views. There’s something beautiful about how destructive and powerful nature can be. #wildlandfirefighting

#photostr #photography #hotshot #plebchain #grownostr

Imagine if the idea of,

“I am Worf, son of Mogh.”

style reputation came back in vogue.

Reputation comes from the people not the government. Legal identity is a scam.

People think LK-99 is going to take a long time for production to scale up. 👎

I do not share these concerns.

Behold a 48ft vacuum furnace available from US supplier. Furnace capabilities include 200,000 lb load capacity, processing temperatures up to 2650°F, and vacuum levels of 10-5 torr. 🤔

There could easily be 100’s of tons of Lk-99 (or equivalent/superior RTSC) sitting around very quickly. 👍

Good Morning Nostr 🧡⚡

Another #AskNostr for you today. More specifically for the iOS users.

I'm curious, what features or attributes of the iOS ecosystem make you happy to stay within Apple's walled garden?