"but we need public schools to identify talents" #grownostr #hayek

Got a confession to make... I totally misunderstood the whole fight between Milei and Hoppe. It's partly their own fault, they didn't get each other right too! Anyway Bob Murphy explains the whole thing so damn well at 26:28 #grownostr #milei #hoppe #fiat #gold #fuckthecb

I’d argue that over-taxing #Bitcoin won’t be the state's way to fight it. Either they’re too smart to not to do it, or they’ll lose. Imagine what would happen if they over-taxed it—people would rely more on #P2P methods to buy and sell. Since it’s essentially a decentralized black market with no central authority, the price would rise significantly—not in the short term, but inevitably in the long run. It would be like the Prohibition era, but even harder for the state to control. This would be even more true in countries with dysfunctional governments. The same thing couldn’t happen with gold—there was no easy way to verify its authenticity. But with Bitcoin, don't trust, verify! #grownostr

Long story short. if Austrians are right there would be a recession either in 2025 or 2026.

The Inverted Yield Curve, Austrian Business Cycle Theory, and the True Money Supply | Published in Quarterly Journal of Austrian Economics

By Ryan Griggs, Robert Murphy. Griggs and Murphy show that the Rothbard-Salerno measure of the "true money supply" tracks Treasury bond spreads wel...

10-Year Treasury Constant Maturity Minus 3-Month Treasury Constant Maturity

View the spread between 10-Year and 3-month Treasury Constant Maturities, which is used to predict recession probabilities.

#austrianeconomics #recession

The Trudeau government’s decision to ban gasoline-powered cars by 2035 in the drive to “net zero” emissions is part of a global policy agenda kickstarted by a 2018 “Special Report” issued by the United Nations’ Intergovernmental Panel on Climate Change (IPCC). The report, titled Global Warming of 1.5°C, was commissioned to study the potential benefits of limiting warming to 1.5 degrees Celsius rather than the 2.0°C target stated in the Paris Agreement. By coincidence, the same weekend the UN released its “Special Report,” Yale economist William Nordhaus won the Nobel Memorial Prize for his pioneering work on the economics of climate change. Major media treated the two events as complementary, assuming Nordhaus’ work supported the 1.5°C goal. On the contrary, his modeling work projected that the “optimal” amount of global warming by the year 2100 would be 3.5°C, a full two degrees higher than the popular target. In fact, Nordhaus’ model estimated that a 1.5°C ceiling would be so harmful to the economy that it would be better for humanity if governments did nothing at all about climate change rather than pursue such a draconian policy. Read more here:

Fraser Institute

1.5°C global warming target based on shaky science

The Trudeau government wants to ban gasoline-powered cars by 2035.

#economics #climatechange #un #grownostr

Horatio Alger Jr. (January 13, 1832 – July 18, 1899) was an American author who wrote young adult novels about impoverished boys and their rise from humble backgrounds to middle-class security and comfort through good works. His writings were characterized by the "rags-to-riches" narrative, which had a formative effect on the United States from 1868 through to his death in 1899. High-brows turn up their noses at Horatio Alger's philosophy. Yet Alger succeeded better than anybody else in stressing the most characteristic point of capitalist society. Capitalism is a system under which everybody has the chance of acquiring wealth; it gives everybody unlimited opportunity. Not everybody, of course, is favored by good luck. Very few become millionaires. But everybody knows that strenuous effort—and nothing less than strenuous effort—pays. All roads are open to the smart youngster. He is optimistic in the awareness of his own strength. He has self-confidence and is full of hope. And as he grows older and realizes that many of his plans have been frustrated, he has no cause for despair. His children will start the race again, and he does not see any reason why they should not succeed where he himself failed. Life is worth living because it is full of promise. #mises #capitalism #socialism #bureaucracy #grownostr

Statists claim "The government creates debt and outlines the path for development. If the private sector follows this development path, much of the created money is absorbed through the resulting economic growth and the taxes generated from it, which helps control inflation. In essence, what can provide citizens with benefits beyond what the free market offers are the secondary advantages that arise when the government aggregates small revenues. This is something market advocates often overlook." But an unanswered question remains: why is it only the government that can chart such a path? Are private investors too blind or incapable to recognize these opportunities themselves? This question can generally be raised about all government interventions that aim to achieve Pareto improvements. If the ultimate goal is to improve overall welfare, and this involves improving the situation for one group (Group A) at the expense of another (Group B) in the short term, why can’t Group A persuade Group B to voluntarily give up their short-term interests? Interestingly, the market operates in the opposite way. The market forces investors to redirect capital from less productive sectors (in the long term) to more productive ones. In doing so, it achieves the very goal that government advocates argue for, but in a more efficient and non-coercive manner. #grownostr #freemarket #liberty #economics #fiat #state

Sure let's celebrate, but remember he wasn't pardoned by #state. #state just wasted 12 years of his probably awesome life. #freeross

Just in case you didn't know "... By the time Ulbricht graduated, he had become interested in #libertarian economic theory and adhered to the political philosophy of Ludwig von #Mises." "Society cannot contribute anything to the breeding and growing of ingenious men. A creative genius cannot be trained; there are no schools for creativeness. A genius is precisely a person who defies all schools and rules, deviates from the traditional roads of routine, and opens up new paths through land inaccessible before. A genius is always a teacher, never a pupil—always self-made. He does not owe anything to the favor of those in power. However, the government can create conditions that paralyze the efforts of a creative spirit and prevent him from rendering useful services to the community." - Ludwig von Mises #grownostr #freeross #libertarianism #Bitcoin

Can you pin a note in nostr? #asknostr