Bu-bu-but then we wouldn't get this self-perpetuating feedback loop with opportunistic & careerist hacks that draw power from the unjust, unsustainable and reckless fiat system.
Perfect timing if your willing to learn. Huge question now days. Someone gives away free education and we will got economic illiterates. Kind of sad honestly. This is as easy as it gets too.
I would like to offer some constructive criticism. I would really prefer it if you guys posted the videos for these events in order and relatively close to each other. Watching Jeff give a killer introduction and then having to wait days to see the rest is frustrating.
I am sorry but the 70s oil shock was caused by the price being kept artificially low and that caused a shortage which drove up prices... If that is what Mises thought, the theory is missing something. OPEC formed and used its cartel power to restrict supplies, this could have contributed, but it wasn't driving the shortage - that is absurd.
Bob hasn’t changed over the years. I mean that as a good thing in a world where everyone thinks they need to change to get by. Nope, stick to your roots. Foundations of money can’t change. It’s always a time trade off and delaying gratification for bigger rewards. Too bad the stock brokers and Bernie Madoff/Ken Griffin types have perverted that after workers switched from annuities to self funded 401Ks, now we’re switching from 401Ks to just basically workers going back and forth in contract gigs and never get by. Hopefully they buy what real money they can afford, like a gram of gold or couple ounces of silver at a time.
I wasn't surprised by the story about Mises' dressing style at all. I didn't read a lot of Mises, but from what I read, both from how he approached subjects and how in depth he went, I got the feeling that he actually was on the spectrum for autism. This isn't to say he was wrong, just because you think differently, it doesn't mean you're thinking badly. It could also be OCD. The consistent dressing, the refusal to compromise on principles, and his thoughts on human action, match a "disorder" of this type.
Central banks around the world have agreed to finance our reckless spending under fixed exchange rates & propping up the bond market with printed money. We get most of our produce from imports & don't produce much of anything, especially that the world demands. Nor do we have any plan to in the future. In other words, our entire economy is a bubble built on inflationary credit, at the world's expense, & we have no surplus coming anytime soon. The world would abandon us, if their job markets weren't built on fueling our consumption lol. Plus they have a huge amount of public & private dollar denominated debt, & will get sanctioned out of the global economy if they don't comply with the US's wishes.
So how does he explain the inflation being experienced worldwide? I understand that Trump printed a few trillion in the last year of his reign to give money to corporations, but why is that affecting Europe and Asia? If the US inflated their own currency, shouldn't oil and gas be cheaper in other countries as their currencies get stronger against the greenback?
The interest on a bond is a % of its face value- the money you get at maturity. For bonds with a longer maturity, the principal (face value amount) gets paid later. There is a time-discount on longer maturity bonds because the investor has to defer consumption for longer. As a result, a bond maturing next year will pay less interest each year than one maturing in 10 years time. This yield can be exacerbated by a falling price of the bond that would reflect a rise in interest rates. An inversion happens when the rate on the shorter bond (say, 3 months) sees its price fall so much that the effective yield on it is more than the yield on the longer bond.
@@JM-ws6kPerfectly well said my Austrian friend. I often times find myself explaining what seem to be obvious economic phenomena to my much more highly 'traditionally' educated friends and family members. And I'm sure, probably like yourself, I find that they more often than not, have less than impressive rebuttals. If I had a penny for every time I heard the phrase, "But who will build the roads?", as if they never considered that we might have a good answer to that ridiculous question... Well you know the rest.
Imagine if they taught this in schools and colleges across the country? In short order, things would change for the better.
Bu-bu-but then we wouldn't get this self-perpetuating feedback loop with opportunistic & careerist hacks that draw power from the unjust, unsustainable and reckless fiat system.
less idiots would roam the world
That's why I donate to the Mises institute
Salute And Cheers To All Stackers
Bob is great!
He is! Now if only he were right also.
Thank you for this talk, it was so much needed.
Click bait title to look like a get-rich-quick video hahaha
Great Bob Murphy, one of the best economic speakers nowadays
Bob should be chairman of the fed!
Perfect timing if your willing to learn. Huge question now days. Someone gives away free education and we will got economic illiterates. Kind of sad honestly. This is as easy as it gets too.
Great talk
I would like to offer some constructive criticism. I would really prefer it if you guys posted the videos for these events in order and relatively close to each other. Watching Jeff give a killer introduction and then having to wait days to see the rest is frustrating.
Which book of his is he talking about? I missed the reference somewhere and it's hard to search...
I would've appreciated more details from the book, such as why yield curve inversion on treasuries predicts recessions on Mises's view.
I am sorry but the 70s oil shock was caused by the price being kept artificially low and that caused a shortage which drove up prices... If that is what Mises thought, the theory is missing something. OPEC formed and used its cartel power to restrict supplies, this could have contributed, but it wasn't driving the shortage - that is absurd.
Bob hasn’t changed over the years. I mean that as a good thing in a world where everyone thinks they need to change to get by. Nope, stick to your roots. Foundations of money can’t change. It’s always a time trade off and delaying gratification for bigger rewards.
Too bad the stock brokers and Bernie Madoff/Ken Griffin types have perverted that after workers switched from annuities to self funded 401Ks, now we’re switching from 401Ks to just basically workers going back and forth in contract gigs and never get by. Hopefully they buy what real money they can afford, like a gram of gold or couple ounces of silver at a time.
He even did a podcast with Keith Weiner and still didn't change smh
I don't know if they're bringing in the dessert right now, but you're gonna need it 😅
These are always too short. I want to hear him talk about this for an hour and a half and not rush. Maybe just me
I wasn't surprised by the story about Mises' dressing style at all. I didn't read a lot of Mises, but from what I read, both from how he approached subjects and how in depth he went, I got the feeling that he actually was on the spectrum for autism. This isn't to say he was wrong, just because you think differently, it doesn't mean you're thinking badly. It could also be OCD. The consistent dressing, the refusal to compromise on principles, and his thoughts on human action, match a "disorder" of this type.
Autism?
Central banks around the world have agreed to finance our reckless spending under fixed exchange rates & propping up the bond market with printed money. We get most of our produce from imports & don't produce much of anything, especially that the world demands. Nor do we have any plan to in the future.
In other words, our entire economy is a bubble built on inflationary credit, at the world's expense, & we have no surplus coming anytime soon.
The world would abandon us, if their job markets weren't built on fueling our consumption lol. Plus they have a huge amount of public & private dollar denominated debt, & will get sanctioned out of the global economy if they don't comply with the US's wishes.
One thing you didn't touch on that is a counter to this argument is that M2's definition changed at the same time it shot up. So what's going on here?
Bob
Bankers have the upper hand understanding how monetary, banking and finance work s8nce they are tge ones feeding information to economist
Don‘t forget to smash that like button, guys
So how does he explain the inflation being experienced worldwide? I understand that Trump printed a few trillion in the last year of his reign to give money to corporations, but why is that affecting Europe and Asia? If the US inflated their own currency, shouldn't oil and gas be cheaper in other countries as their currencies get stronger against the greenback?
Forgot about petro dollar?
Why is Bob starting to look more like Ben Bernanke every time I see him.
I have a BS in math, and I know what a yield curve is, and I still have no idea what he was trying to say when he described the yield curve.
The interest on a bond is a % of its face value- the money you get at maturity. For bonds with a longer maturity, the principal (face value amount) gets paid later. There is a time-discount on longer maturity bonds because the investor has to defer consumption for longer. As a result, a bond maturing next year will pay less interest each year than one maturing in 10 years time. This yield can be exacerbated by a falling price of the bond that would reflect a rise in interest rates. An inversion happens when the rate on the shorter bond (say, 3 months) sees its price fall so much that the effective yield on it is more than the yield on the longer bond.
@@JM-ws6kPerfectly well said my Austrian friend. I often times find myself explaining what seem to be obvious economic phenomena to my much more highly 'traditionally' educated friends and family members. And I'm sure, probably like yourself, I find that they more often than not, have less than impressive rebuttals. If I had a penny for every time I heard the phrase, "But who will build the roads?", as if they never considered that we might have a good answer to that ridiculous question... Well you know the rest.
why can't economists explain the yield curve using english?
Mises would have loved #bitcoin
only morons and charlatans love digital gold.. it's as useless for money as the real thing (gold/silver).
He wouldnt consider it as money
Mises Regression Theory in his book the Theory of Money and Credit would seem to DQ Bitcoin as money
Why is everyone white?