The Human Action Podcast

Our guest this week is Patrick Barron, a professor of economics and a student of global currency markets. Patrick and I dissect the Fed's big announcement this past week not to raise interest rates, and consider whether Janet Yellen and other central bankers really believe in what they're doing.

Is it all just to save themselves from the judgment of history, by kicking the can down the road? Have they read, or even considered, Austrian arguments on money and banking? Or are they simply so wedded to Keynesian orthodoxy that they literally don't know what else to do? And what type of precipitating events might spell the end of US dollar imperialism?

Our guest this weekend is Professor Per Bylund, whose article on immigration (https://mises.org/library/refugees-and-migrants-world-government-meddling) elicited plenty of discussion on mises.org and social media earlier this week. Dr. Bylund argues that property rights, not government immigration policies, should serve as the natural regulator of immigration and human movement. Since the state is never legitimate, "open borders" is conceptually irrelevant. Our focus as libertarians should be on property, freedom of association, and the equally important freedom of dissociation. Migrants do not enjoy unbridled freedom of movement when such movement becomes a matter of trespass.

We discuss several arguments made by Hans Hermann Hoppe regarding externalities caused by forced integration and "public lands." As usual, the problem lies with states themselves: disruptive wars and bad economic policies cause tremendous human dislocations, while welfare state incentives encourage immigration for the wrong reasons.

If you're interested in the divisive topic of immigration from a libertarian perspective, stay tuned.

Our guest this weekend is Jim Rickards, the author of the 'New York Times' bestseller 'The Death of Money' and a well-known expert in geopolitics and global capital.

Jim and Jeff discuss the unfolding drama at the Fed, which can't decide when—if ever—QE will come to an end. They also discuss possible endgame scenarios for liquidating unprecedented amounts of sovereign, commercial, and household debt; whether coming monetary shocks will present the IMF with an opportunity to demand a global currency reset, and who wins and loses when the game of musical chairs stops. This is a must-hear interview for anyone interested in currency wars, central banks, and the unholy politics behind it all.

See Jim Rickards' 'Strategic Intelligence' newsletter: http://agorafinancial.com/publications/awn

Last Monday's mini-crash in equity markets reminded many people of the dark days following the Crash of 2008. The 400 richest people in the world collectively lost $124 billion—at least on paper—in a single day. And the average investor may get tired of seeing his or her net worth take a nosedive every 7 or 8 years.

Here to make sense of market crashes is our own Dr. Joe Salerno. Why does the financial press fail to see monetary inflation as the cause of stock bubbles? Why is deflation portrayed as an enemy to be defeated, rather than a sign of a more productive economy? Why do even seasoned financial experts fail at timing the market? And are deflationary crashes actually the cure for a sick economy?

Brazil is in a meltdown: its stock markets are crashing, inflation is over 10%, and huge numbers of people are marching in the street to demand the impeachment of President Dilma Rouseff. And while collectivism runs deep in Brazilian politics and academia, the tide may be turning—some protesters now carry signs demanding “Less Marx, More Mises.”

Our friend Helio Beltrão, President of Mises Institute Brazil, is here to explain what’s going on. Will Brazil continue to unravel, even as it prepares to host the world for the 2016 Summer Olympics? Or is there a path forward, led by a growing movement eager to shrug off the old guard of Marxist cronies?

Dr. Nair recently spoke at our Mises Boot Camp seminar, and did a great job presenting our introductory course on money. She explains the origins of money, how it evolved, how it derives value, and how it should function in society. Her lecture is a great 30 minute refresher course for anyone familiar with the evolution of money from the perspective of Menger and Mises, and it's the perfect introduction to share with your friends and family who haven't studied economics.

This weekend we feature part of a talk by our old friend Dr. Robert Higgs, a longtime Senior Fellow at the Mises Institute and libertarian stalwart. Bob, author of the famous 'Crisis and Leviathan', recently spoke at Mises University on the critical topic of war and the growth of the state. He considers war the "master key" that enables government to grow in size, scope, and power. This poignant speech is not to be missed by anyone who cares about peace and liberty.

Recorded at Mises University 2015, Tom discuses the impact that Mises has had on his life, his time as a summer fellow at the Mises Institute, and the importance of the Mises Institute in spreading the ideas of liberty.

Jeff and Bob discuss his new book, 'Choice: Cooperation, Enterprise, and Human Action', Bob's new opportunity at Texas Tech University, and all things Bob Murphy.

http://store.mises.org/Choice-Cooperation-Enterprise-and-Human-Action-P10979.aspx

Karl-Friedrich Israel is a Mises Institute Summer Fellow and a PhD candidate under Professor Guido Hülsmann. The focus of his research is to identify and confront the prevailing arguments for central banks.

Karl and Jeff discuss the current situation in Greece from his perspective as a German. Old hostilities between the north and south in Europe are being inflamed, which calls into question the entire purpose of the Eurozone.

Would Greece be better off simply leaving the Euro and resurrecting the drachma? Would the less profligate Eurozone nations cheer this? And has the ECB failed as miserably as the US Fed in creating price stability?