Israeli Strike Kills Three Palestinians in Gaza City

What Causes Stagflation? Authored by Frank Shostak via The Mises Institute, In the late 1960’s Edmund Phelps and Milton Friedman challenged the popular view that there can be a sustainable trade-off between inflation and unemployment. In fact, over time, according to Friedman, expansionary central bank policies set the platform for lower economic growth and a higher rate of inflation (i.e., stagflation). A famous case of stagflation occurred during the 1974-75 period. In March 1975, industrial production fell by nearly 13 percent year-on-year while the yearly growth rate of the consumer price index (CPI) jumped to...

Iran’s deputy foreign minister said in an interview published on Sunday that Tehran is ready to make compromises to reach a nuclear deal with Washington, but that any agreement hinged on whether the US is serious. Iranian Deputy Foreign Minister Majid Takht-Ravanchi told the BBC that the ball was “in America’s court to prove that […]

Israeli airstrikes against Lebanon continued throughout Friday, with the casualty toll announced by Lebanon’s Health Ministry soaring to 217 killed and 798 wounded since Monday. Up until today, there had been relatively few reports of Hezbollah successfully inflicting casualties on the Israeli side. A rocket fired on an Israeli Army position along the border Friday […]