Peter's Blog

As the United States prepares to commemorate its 250th anniversary, Americans will celebrate the nation’s founding with pageantry, parades, pomp and patriotism. Loving one’s country of birth and taking pride in its independence-inspired origins, praiseworthy accomplishments, and laudable legacy is a natural inclination and respectable trait. Similar celebration and reverence shouldn’t apply to the dollar, […]

Mainstream economists often argue that increasing the money supply is necessary to stimulate economic growth. However, Austrian economists have long recognized that monetary expansion merely creates the illusion of prosperity while sowing the seeds of future crises. Printing money cannot create real wealth or productive resources, but instead distorts economic calculation and leads to malinvestment. […]

Alan Greenspan served as Federal Reserve Chairman for nearly two decades, presiding over the US economy during a period of significant growth and turmoil. While often portrayed as a stalwart defender of free markets, a closer examination of his career reveals a more complex picture. Greenspan’s ability to adapt his views and rhetoric to suit […]

The US tax system is often praised as a means of funding essential government services and redistributing wealth. A deeper analysis reveals that it is primarily driven by envy and resentment rather than a genuine concern for the common good. By pitting different groups against each other, the tax code fuels social division and undermines […]

June’s Employment Situation report offered little comfort to households or policymakers. Headline non-farm payrolls grew by a scant 57,000, a figure that arrived alongside a combined 74,000 downward revision to April and May. The official unemployment rate edged down to 4.2 percent, yet that improvement came only because 720,000 Americans exited the labor force. As […]

The Bureau of Labor Statistics released its latest Job Openings and Labor Turnover Survey (JOLTS) on Tuesday, and the report offered little new for markets to digest. Total openings in May held at 7.6 million, hires came in at 5.2 million, and separations totaled 5.1 million. The underlying rates (openings at 4.6%, hiring at 3.3%, […]

The analysis below covers the Employment picture released on the first Friday of every month. While most of the attention goes to the Headline Report, it can be helpful to look at the details, revisions, and other reports to get a better gauge of what is really going on. Current Trends The jobs report showed […]

The model of software-as-a-service is dead. Already successful businesses have been able to hold onto some of their past glory, but new SaaS businesses have it much more difficult than they did even five years ago. Businesses are tired of paying for tools that have potential to make them more efficient. People are ready to […]

The AI bubble has become a frequent fixture in the financial news cycle as pundits and institutions express their fear that, when it pops, it could drag the global economy into crisis. Central bankers and institutions like the Bank for International Settlements (BIS) are sounding alarms about debt-fueled AI investments, overexuberance, fragile funding structures, and […]

Nearly all read distributive forms of government try to find some way to give moral justification for their poor economic choices. They assume that it will be easier for people to accept wealth redistribution if they can somehow prove that the wealthy are morally inferior. While like any group of people the wealthy have their […]