The uncaged bird sings because it has found again what the caged bird has almost forgotten - the pure rapture of open skies.
#nostr
Will Blackrock Be Bitcoin's Suddenly Moment? With Parker Lewis
nostr:npub10uthwp4ddc9w5adfuv69m8la4enkwma07fymuetmt93htcww6wgs55xdlq #266: Good Morning, Stay Humble and Stack Sats
https://fountain.fm/episode/P8S5sGS07IEjuJiV5ZUb
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#Bitcoin is Voluntary
Everything Voluntary ✌️
My latest from the #Mises Institute
The ratchet effect’s inexorable advance poses a constant threat to individual liberty and economic prosperity. History teaches us that emergency measures, however well-intentioned, tend to metastasize into permanent restrictions on our freedom. As we weather the tempests of crises, we must remain vigilant in defense of our fundamental rights and the engines of economic growth.
https://mises.org/wire/beyond-crisis-ratchet-effect-and-erosion-liberty
Conscious parenting holds the power to give each one of us what we have always craved: a deep and abiding sense of inner worthiness. Isn't this longing to be truly seen and validated for our intrinsic selves something we all deeply desire? Each and every human yearns to feel free to be who they authentically are without judgment, guilt, or shame. Our children desire this deeply as well, and here is the amazing truth: conscious parenting can teach you how to meet this desire. When your children begin to be seen for who they are - separate from what society expects of them - you can rest assured that there is no greater gift they could ever receive than being allowed to be their authentic selves.
Shefali Tsabary
nostr:npub1hw4zdmnygyvyypgztfxn8aqqmenxtwdf3tuwrd44stjjeckpc37q6zlg0q Chat #83 - Decentralizing Global Markets with Nostr, nostr:npub1l2vyh47mk2p0qlsku7hg0vn29faehy9hy34ygaclpn66ukqp3afqutajft
The whole entrepreneurial class [during the boom] is, as it were, in the position of a master-builder whose task it is to erect a building out of a limited supply of building materials. If this man overestimates the quantity of the available supply, he drafts a plan for the execution of which the means at his disposal are not sufficient. He oversizes the groundwork and the foundations and only discovers later in the progress of the construction that he lacks the material needed for the completion of the structure. It is obvious that our master-builder's fault was not overinvestment, but an inappropriate employment of the means at his disposal.
Mises
Now the specific timing of the collapse is related to the actions of the banks. In the typical scenario, they eventually abandon their inflationary policy, perhaps because they fear a drain on their reserves under a commodity standard or because the central bank becomes alarmed at the rapid price increases under a fiat standard. This leads to a slowdown or even fall in the quantity of money and a rise in interest rates. At the higher interest rates, many entrepreneurs realize that their projects are now unprofitable; the boom collapses, and the bust ensues.
Yet Mises is quite clear that even if the banks continued with their inflationary policy, eventually the boom would end when the price inflation had grown so severe that the public abandoned the currency altogether. Mises called this horrendous outcome the crack-up boom. In this scenario, once the public has switched currencies, their underlying real time preferences would assert themselves in the market rate of interest, showing many of the entrepreneurs that they had greatly erred during the false prosperity of the boom.
Bob Murphy
It is certain that no manipulations of the banks can provide the economic system with capital goods. What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The boom is built on the sands of banknotes and deposits. It must collapse.
Mises
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
The Human Action Podcast | Soft landing? Not likely
As Fed staffers no longer predict an impending recession, economists on social media are all assuring themselves that Americans are in store for a 'soft landing." Mises Fellow Jonathan Newman joins Bob to explain why the data still support the case for recession and point out the eerie similarity to the calm before the storm in 2008.
WTF happened 52 years ago???