PODCAST

Minor Issues

Mark Thornton

Succinct economic commentary by Dr. Mark Thornton, senior fellow at the Mises Institute.

business

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Dividing the Housing Market

Minor Issues ·

2023/05/20

In this week's episode, Mark explains why the market for existing homes has been diverging from the market for new houses. The Fed ZIRP, QE and Covid bailouts have locked Americans into their mortgages and low payments, reducing the supply of existing homes. This keeps them off the market and home prices high inan economy that is headed for a recession or crisis. Buyers have been diverted to newly constructed homes where builders have more flexibility to sell and there are no existinghomeowners

Dividing the Housing Market

Minor Issues ·

2023/05/19

Expecting Rate Cuts

Minor Issues ·

2023/05/13

After a long series of rate hikes, Fed officials and asset markets are expecting a long series of interest rate cuts. This is based on the tried andhuePhillips Curve analysis. In color theory, "hue" is the technical appearance of color that can be described mechanically as a number. Let's hope interest rate expectations are not being distorted by other factors of reality, and that current Phillips Curve model perceptions of hue are also true. Be sure to followMinor Issues at

Expecting Rate Cuts

Minor Issues ·

2023/05/10

Bank Reserves

Minor Issues ·

2023/05/06

Bank reserves are seldom mentioned except in cases of bank runs. The other possible mention is all the interest money the Fed pays to banks simply for holding reserves. Mark explains the role of bank reserves in the current "system" and gives a brief explanation of why the Austrian view is better and actually gets the job done. Be sure to followMinor Issues at Mises.org/MinorIssues.

Investing in Gold

Minor Issues ·

2023/04/29

Mark discusses something bigger than the Disney layoffs: the Wall Street Journal's April 25 frontpage articleon investing in gold. It would seem that the recent rise of the price of gold is the result of tired, dumb, and disillusionedcrypto currency investors throwing in the towelto "chase shiny new object—gold."Markexplains that the rational reasons for investing in gold loom larger than the entire Magic Kingdom! Be sure to followMinor Issues at Mises.org/MinorIssues.

Eye on Apple

Minor Issues ·

2023/04/22

Mark looks at the price of Apple stock—one of the best performing stocks over the last quarter century, and one of the largest holdings in stock indexes, mutual funds, and Berkshire Hathaway portfolio. Market watchers have kept a keen eye on Apple as it heads for a new all-time high;but, Mark is concerned that a downturn would have a huge ripple effect on the overall market—possibly equivalentto a tsunami. Be sure to followMinor Issues at Mises.org/MinorIssues.

Things Are Going Down

Minor Issues ·

2023/04/15

Mark takes a look at the good news on price inflation and why it is better than reported, but probably short-lived. Other statistics are worsening and, amazingly, even landlords are starting to feel the pain! Be sure to followMinor Issues at Mises.org/MinorIssues.

Things Are Going Down

Minor Issues ·

2023/04/12

The Gold Family

Minor Issues ·

2023/04/08

This episode explores precious metals. Gold (Au) is the main precious metal, followed by Silver (Ag), Platinum (Pt), and Palladium (Pd). These are distinct from valuable industrial metals such as copper (which served as money historically), nickel, and zinc,which have served as token coins in modern times. There are many different ways and forms you can own precious metals. Be sure to followMinor Issues at Mises.org/MinorIssues.

The Price of Gold

Minor Issues ·

2023/04/01

Markis not fooling around today. He looks back at the history of gold and its price, which some believe is too erratic and too unstable (like Bitcoin) to serve as a basis of a monetary system.Markshows that it is not gold that destabilizesevents in the real world, but rather real world events related to political decision-making that has made the price of gold unstable. The price of gold isa "minor"indicator of what governments are really up to. Be sure to followMinor Issues at

Inflation Can Get Much Worse

Minor Issues ·

2023/03/25

In this episode, Mark looks at the far away minor issue of the impact of hyperinflation in Zimbabwe. Even though they have switched from Zim dollars to US dollars, ordinary people are still suffering. Their government and its inflationary monetary policy is manifesting itself in some interestingways. Be sure to followMinor Issues at Mises.org/MinorIssues.

Inflation Can Get Much Worse

Minor Issues ·

2023/03/24

Bank Failures: Runs and Funds

Minor Issues ·

2023/03/18

SVB Bank and Signature Bank failed this week and were bailed out.Markexplains why the banks failed and why it was bound to happen. The minor issue is that the total FDIC bailout fund is actually smaller than either one of the banks. Be sure to followMinor Issues at Mises.org/MinorIssues.

Toilet Paper

Minor Issues ·

2023/03/11

Mark discusses how the Federal Reserve and Covid restrictions greatly increased the price of cardboard boxes;but, with online sales softening, we should expect suppliers to shift the raw materials used to make boxes (wood pulp) into the production of other paper goods, such as toilet paper. Because our demand for toilet paper is relatively inelastic, we should seea decline in the price of toilet paper and better availability. The market will reallocate toward consumer wants and lower prices. Be sure

The Fed's "Disinflation" Story Just Flew Out the Window

Minor Issues ·

2023/03/04

Mark talks about the recent price inflation reports, as well as reports of job openings from private sector job placement companies. Inflation was higher than expected and job openings declined. What will the Fed do? People are making painful adjustments—Domino's reported disappointingsales, because their customers are "eating in". Be sure to followMinor Issues at Mises.org/MinorIssues.

Business Cycle Intel Report

Minor Issues ·

2023/02/25

Mark uses Intel Corporation, the computer chip manufacturer, as a barometer of the business cycle. He looks at the stock price in recent years, its production capacity expansion, and the company's very recent cost- and dividend-cutting moves. Check out Mark Thornton's free book,The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century: Mises.org/Curse Be sure to followMinor Issues at Mises.org/MinorIssues.

Business Cycle Intel Report

Minor Issues ·

2023/02/23

The Fed's 2% Inflation Target

Minor Issues ·

2023/02/18

Mark Thornton explains the target as another smokescreen that was originally intended to stabilize monetary policy, currencies, and exchange rates, but has become a justification for inflation and central bank manipulation. Be sure to followMinor Issues at Mises.org/MinorIssues.

Confusing Economic Reports?

Minor Issues ·

2023/02/15

On the heels of rising stock markets, record low unemployment rates, and even the plunge in the price of gasoline, Mark discusses the latest government economic reports including the hot retail sales numbers, recent increases in the CPI, and the increases in business inventories. What can be made of these confusing numbers? Be sure to followMinor Issues at Mises.org/MinorIssues.

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