Two economists. Two different conclusions. In the late 1920s, Irving Fisher believed that monetary stabilization could stabilize the dollar and help overcome the business cycle. Ludwig von Mises did not agree with that approach. In 1928, he challenged Fisher’s monetary views, arguing that artificially low interest rates and credit expansion could fuel an economic boom that would eventually end in crisis. Fisher remained confident in the stock market even in October 1929. Then came the crash and the Great Depression.

The U.S. National Debt and the debt interest expense as a % of federal budget have been etched into the bitcoin blockchain forever. • National debt: $40.33T (Oct 14, 2026) • Interest: 14.9% of federal outlays (FY26)

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Fiat Standard @Saifedean Ammous

A neighbor just got zapped ⚡️by nature!

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Socialism is a machine for consuming capital while pretending to create it. Every socialist program starts the same way: a politician identifies something people want, promises to deliver it without a visible price tag, and taxes or prints the money to fund it. Venezuela had this down to an art form by 2015. Price controls on food, nationalized oil revenues redistributed as subsidies, Maduro declaring the supermarket shelves would stay full. By 2017, Venezuelans lost an average of 11 kilograms of body weight from hunger. The machine ate the capital, then ate the people. Prices carry information. When a government fixes the price of bread below market, bakers stop baking. When it taxes productive capital to fund consumption, the capital stock shrinks. Ludwig von Mises called this the calculation problem: without genuine price signals, central planners are flying blind, allocating resources based on political pressure rather than actual scarcity. Chronic shortage sits underneath their rhetoric of abundance. Rent is higher because zoning boards and rent stabilization laws choked off housing supply in cities like San Francisco for decades. Your healthcare costs more because Medicare and Medicaid inflate demand while regulatory capture insulates hospitals from competition. Specific politicians passed specific laws that produced specific shortages, then campaigned for re-election by blaming the market. Voting for a slightly less interventionist candidate while holding your savings in dollars is rearranging furniture on a sinking ship. Hard assets held outside the banking system, particularly bitcoin, gold, property, and stocks, remove your stored labor from the reach of the printing press. This is a basic act of self-preservation in a system designed to extract your productivity under the guise of compassion. Stop waiting for permission to opt out.

A kid breaks a window. the glazier gets paid. the keynesian says great, that's spending, that's growth nobody asks what the shopkeeper would have bought with that money instead. a suit. a new oven. the window is visible. the suit that never got made is not the economy didn't grow. it got a window back and lost a suit. you can count the window in gdp. you can't count the suit anywhere. that's the whole trick

“The common argument that crime is caused by poverty is a kind of slander on the poor.” — H. L. Mencken