Why Mises’s Theory of Economic Calculation Still Is Relevant Today

Trump Admin Revamps Steel, Aluminum, Copper Tariffs; Imposes 100% Duties On Patented Drugs The Trump administration on Thursday announced a pair of tariff actions under national-security authority, maintaining core 50% duties on many imported steel, aluminum and copper products while overhauling the rules to exempt goods containing negligible amounts of those metals and imposing 100% tariffs on imported patented pharmaceuticals that do not meet new domestic production or pricing conditions. President Donald Trump pauses as he finishes speaking about the Iran war from the Cross Hall of the White House in...

Europe Faces Summer Jet Fuel Crisis As Iran War Slashes Supply Authored by Tsvetana Paraskova via OilPrice.com, Europe faces an imminent jet fuel crisis as the Iran war and Hormuz disruption cut off key Middle Eastern supplies. Long-term refinery closures and rising import dependence have left Europe highly exposed, with limited alternatives and growing competition from Asia. Airlines are already cutting capacity and warning of higher fares, with potential flight cancellations looming as fuel shortages intensify. Accelerated refinery closures in the past decade and increased dependence on kerosene from the Middle East have exposed...

With Private Credit We See The Credit Cycle Hasn't Been Repealed Authored by Jay Rogers via RealClearMarkets.com, Something cracked in private credit this month, and the men who manage systemic risk for a living are saying so. Goldman Sachs CEO David Solomon's just-released 2025 annual shareholder letter warns that concerns about private credit - including "underwriting quality or exposure to software companies that may be negatively affected by AI" - are "a reminder that the credit cycle has not been repealed." His predecessor Lloyd Blankfein went further on Bloomberg's Big Take...