Mises Daily Email

Tuesday, December 23, 2025

Monetary inflation isn’t a problem just because it leads to rising prices. The bigger problem is that easy money leads to financial bubbles and booms and busts. It diverts savings to consumption and undermines the foundation of the economy. Frank Shostak explains today how the bubble process works.

Not that you’d hear much about this problem in your typical university program. Murray Rothbard understood that modern universities function as organs of state propaganda.

Ryan McMaken, Editor-in-Chief

Financial Bubbles: How they Make Us Poorer

Frank Shostak

Financial bubbles, which used to be rare, have become a way of life, thanks to a quarter century of easy money policies from the Federal Reserve System. We need to better understand how bubbles form and why they are so harmful.

READ MORE +

Home Prices and Sales Fall. Can Sellers Count on Lower Interest Rates?

The real way to increase home sales is to cut prices further.

LISTEN +

Woodrow Wilson’s Christmas Grift
of 1913

Two days before Christmas, 1913, the “creature from Jekyll Island” was birthed into our body politic.

LISTEN +

The Brutality of the US Empire Is on Display in Venezuela

What we cannot do, legitimately, is have the US government go abroad in search of the Venezuelan monster to destroy.

From the Desk
of Lew Rockwell

Sound economics and economic freedom have never been more crucial than today. With your help, we will continue fighting against the state and its tyranny.

The Roots of Collectivist Thinking

The idea is now widespread that communities or groups exercise a form of collective thought, which can be duly expressed as the thoughts of the group mind.

Looking Back
and Forth

Is the yield curve turning?
2026 could un-invert the story.

WATCH NOW

Hayek for the 21st Century

The Mises Institute is giving away 100,000 copies of this collection of essays by Austrian School economist and Nobel laureate F. A. Hayek, whom Ludwig von Mises described as “one of the great economists” of all time. The vision of this book is to introduce a new generation of readers to Hayek’s writings.

ORDER YOUR FREE COPY +

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