Very pleased to announce that @PhilippBagus and my new book series "Palgrave Studies in Austrian Economics" is open for submissions.
More details on the series can be found here: link.springer.com/series/17413
English
David J. Howden
203 posts
David J. Howden
@davidjhowden
Economist | Professor @SLUMadrid | Research fellow @Mises 10+ books | 50+ articles | New book: "Almanac of Global Commodities: 2023-33" https://t.co/Wo9AarqzaX
Madrid, Spain Katılım Eylül 2021
0 Takip Edilen230 Takipçiler
Wrong. Low prices are the result of low scarcity. The reason why EV metals are so cheap is that there is low demand.
Low demand doesn´t bode well for profit.
Justin Wolfers@JustinWolfers
But to be clear, it's not just a bad news bias: It's also bad economics. "Oh no, my product will definitely fail because my input costs are too low," said no producer ever.
English
"@JMilei is not your grandfather´s South American leader who politicizes under the influence of neoclassical "Chicago Boy" economists. Milei is a full-blown libertarian." bit.ly/49JwEOm
Read more @mises
English
Are we at the point in the #FTXScam to realize that the main problem with #Cryptocurency is a lack of deposit insurance?
Because the fiat banking system would be in the same dire straights without @FDICgov.
English
It doesn´t matter how good your money is, if it´s a #fractionalreserve banking system there is going to be trouble.
I wrote about this for @mises 7 years ago when Mt. Gox went bust: mises.org/wire/mt-gox-pr…
Marshall Hayner@MarshallHayner
Let’s talk for a moment about proof-of-reserves. I think this is a common and deceptive practice of the crypto industry to only show PoR without showing proof-of-liabilities. Without knowing how much is owed to depositors, you only have half of the equation. 🧵👇
English
Genuinely impressed at the level of transparency @lawrencehwhite1 displays here.
Like @PerBylund points out: I went out of my way to note that this was exactly what was going to happen.
Lawrence H. White@lawrencehwhite1
@PerBylund Glad to be corrected. In answering Jeremy’s citation question I only had access to the publisher’s website, where the index does not indicate any cites to me within the page range of Howden’s chapter.
English
My favourite take on arguments against fractional-reserve banking is that #Rothbard was against the practice, and that Rothbard is apparently not a badge-carrying member of the #Austrian school.
At least free bankers are transparent with their problem with full-reserve banking.
Lawrence H. White@lawrencehwhite1
Warning: This is not the Austrian (Misesian) theory of banking. It is the idiosyncratic Rothbardian theory of banking.
English
Since I wrote this article on why #Russian stocks were cheaper than ever, the stock market has advanced by 114% in USD terms.
The S&P 500 is down 9% over the same period.
David J. Howden@davidjhowden
Three reasons why #Russian stocks are cheaper than ever. The #MOEX could be the buy of a lifetime. davidjhowden.com/blood-in-the-s…
English
#sanctions were supposed to cripple #Russia. Now they are stopping Western investors from getting back the funds they lent to it. And the news paints this as some painful default damaging Russia.
Meanwhile, people are wondering why the #ruble is soaring.
David J. Howden@davidjhowden
Let me get this straight: #sanctions against Russia prohibit the transfer of dollars to foreign bondholders. This constitutes a #Russian default since it is forced to not pay its creditors? Who are these sanctions really hurting? With friends like the West, who needs enemies?
English
The original dot-com bubble bottomed in July 2002. Those other two peaks in 2011 and 2018 also correspond to more minor drops in the S&P500.
I wouldn´t turn this around, though, and say that analysts are particularly good at picking #StockMarket tops.
Liz Ann Sonders@LizAnnSonders
Companies in S&P 500 now have an average consensus rating of 4 (with 1 being a sell and 5 being a buy), which is highest reading since 2002 @Bloomberg
English
Let me get this straight: #sanctions against Russia prohibit the transfer of dollars to foreign bondholders. This constitutes a #Russian default since it is forced to not pay its creditors?
Who are these sanctions really hurting? With friends like the West, who needs enemies?
CNN International@cnni
Russia just defaulted on its foreign debt. It took much longer than expected cnn.it/3nlcxiA
English
"Let us get rid of these useless human rights, which protect us from nothing and give power to those who have not earned it."
You don´t need to get far in chapter 15 of #murrayrothbard´s The Ethics of Liberty to come to the same conclusion.
mol.im/a/10943449
English
The #Austrian bank is down over 45% since last October, and offers an 8% dividend yield. Not bad for euro investment in a safe country. And it´s not like banking will not resume in Russia/Ukraine once the turmoil ends.
English
There is attention to investments in #Russian and #Ukrainian companies. The problem is that both markets are closed (plus the obvious risks).
Why not look to more attainable exposure for when the fighting is over? #Raiffeisen is the 7th biggest bank in Russia, 4th in Ukraine.
English
Revenge is a reason to do things, but never a good reason.
As with all trade restrictions, remember that you do not only shoot the recipient in the foot. You also shoot yourself.
Free trade fosters peace.
English
#Russia´s current account was positive 10% of GDP last year. Don´t sanctions on balance hurt "us" more than "them"?
Not only can we not buy their goods but we also cannot have their savings invested in our financial markets? Seems like a lose-lose to me.
English