Nostr notes by EconomistaAustriaco

“All rational action is in the first place individual action. ...

2026-10-27T14:15:07Z

“All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.”

— Ludwig von Mises

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2026-10-26T21:21:17Z

In reply to nevent1q…e70h
_________________________

Nostr event nevent1qqsz9mj8qex2c76deyn2x5etja805enmvsglexggvfmzxnkjwq36t6czyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnwef9e8v

2026-10-26T21:14:55Z

Yes!

2026-10-26T14:06:23Z

In reply to nevent1q…3n6j
_________________________

Yes!

Nostr event nevent1qqsvjccyldy34lyltkgy23kzsmum3umaurdt4jm8wyd8x46jg8se8fgzyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnw0jhsqp

2026-10-26T14:05:51Z

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2026-10-24T05:59:17Z

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2026-10-24T05:59:09Z

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2026-10-24T05:45:26Z

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2026-10-24T05:42:15Z

Dad joke 😅

2026-10-24T05:39:19Z

In reply to nevent1q…fzkc
_________________________

Dad joke 😅

"The most dangerous man to any government is the man who is ...

2026-10-24T03:13:50Z

"The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Inevitably he comes to the conclusion that the government he lives under is dishonest, insane & intolerable"

— H.L. Mencken

Nostr event nevent1qqspsukq8rx5j9zcpdeyf3td24exs0uyau5z5mx4uvku5ghr3p0770czyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnwumzqsz

2026-10-23T05:15:30Z

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2026-10-22T00:05:17Z

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2026-10-21T22:22:36Z

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2026-10-21T20:59:00Z

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2026-10-21T19:36:27Z

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2026-10-20T14:53:25Z

Nostr event nevent1qqs0yq39wmkasuly7ychcwzj02hmnklxxq0twl6jr55hl0gpeqjkyggzyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnw6583lt

2026-10-20T14:37:34Z

"The democracy will cease to exist when you take away from ...

2026-10-19T16:22:58Z

"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not."
–Thomas Jefferson

Nostr event nevent1qqsw8af4mxm0esyvwhw2r57r3cgl9peh0s7zphnarujqy4v5jj4fecszyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnwaepg6p

2026-10-19T10:52:51Z

Two economists. Two different conclusions. In the late 1920s, ...

2026-10-18T11:41:25Z

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.

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2026-10-17T19:28:04Z

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2026-10-17T19:08:24Z

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2026-10-17T19:08:16Z

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2026-10-17T19:08:10Z

The U.S. National Debt and the debt interest expense as a % of ...

2026-10-16T04:16:09Z

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)

https://mempool.space/tx/78072b5c5aeb4bd357d203de11b09cf0513d84d544ca658c566bd73b32c598ba?mode=details

Fiat Standard @npub1gdu…6nak ...

2026-10-15T11:18:46Z

Fiat Standard

saifedean (npub1gdu…6nak)

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2026-10-13T23:25:52Z

A neighbor just got zapped ⚡️by nature! ...

2026-10-13T22:25:52Z

A neighbor just got zapped ⚡️by nature!

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2026-10-13T17:12:11Z

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2026-10-13T16:04:44Z

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2026-10-13T12:30:58Z

GM ☀️

2026-10-13T12:11:11Z

In reply to nevent1q…nvd6
_________________________

GM ☀️

Nostr event nevent1qqswxx6k3zqyw7eypdxughqcha8uppvgqexteuj2yv2vaecuawx9x5czyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnwadr9dx

2026-10-13T12:10:30Z

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2026-10-12T22:41:49Z

🏔️

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2026-10-12T12:59:14Z

GM ☀️1

2026-10-12T12:29:25Z

In reply to nevent1q…t3y4
_________________________

GM ☀️1

Socialism is a machine for consuming capital while pretending to ...

2026-10-12T12:29:00Z

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 ...

2026-10-12T12:01:49Z

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

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2026-10-11T16:33:43Z

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2026-10-10T17:33:30Z

🤦🏻‍♂️

2026-10-09T16:01:11Z

In reply to nevent1q…lvae
_________________________

🤦🏻‍♂️

“The common argument that crime is caused by poverty is a kind ...

2026-10-09T16:00:41Z

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

— H. L. Mencken

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2026-10-09T12:54:46Z

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2026-10-09T12:54:29Z

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2026-10-07T11:57:08Z

The physical crude oil market is out of control. The cost to ship ...

2026-10-06T16:39:26Z

The physical crude oil market is out of control.

The cost to ship 2 million barrels of crude oil from West Africa to China is now up to $27.22/barrel.

To put this into perspective, in July, the cost for the same shipment ~$6.50/barrel.

That's a +319% surge in shipping costs in just over 2 months.

The scramble for physical crude inventories is in full-swing.

Nostr event nevent1qqspk7a90h6vdhlglkvlcz40h7d988tj22fq0w2evnfwujqa2nj8mnszyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnw9kgq59

2026-10-06T12:16:01Z

“Freedom has promoted prosperity and provided the wealth that ...

2026-10-06T12:14:29Z

“Freedom has promoted prosperity and provided the wealth that can then be wasted in the welfare state. The welfare state is a luxury expenditure, made possible only by the efficiency generated by a free market system.”

— Milton Friedman

Nostr event nevent1qqs2urhhm55r7kffkvpjmxzuwh07vd42la75ggqsvn3xy50ugryrn2szyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnw9nr3as

2026-10-06T12:11:16Z

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2026-10-06T11:24:55Z

🙋🏻‍♂️

2026-10-06T11:10:03Z

In reply to nevent1q…l7tk
_________________________

🙋🏻‍♂️

Nostr event nevent1qqs2mjsatv9mt9ym0367dfhdwf38t7j77r3y3yxccdnu5usnk79r64qzyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnw2lyrqm

2026-10-05T20:41:17Z

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2026-10-05T17:21:13Z

GM ☀️

2026-10-05T17:00:32Z

In reply to nevent1q…yhmc
_________________________

GM ☀️

Nostr event nevent1qqs9q9j8cg9jay7zesrcjccw9402005efkc0d09hmjsm4lh9k5r52pgzyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnwdyylcj

2026-10-04T16:04:40Z

🤣. 🎯. Also as stable as politicians minds.

2026-10-04T15:58:00Z

In reply to nevent1q…v433
_________________________

🤣. 🎯. Also as stable as politicians minds.

👋🏼

2026-10-04T15:56:28Z

In reply to nevent1q…zu2v
_________________________

👋🏼

Nostr event nevent1qqsvn3mf56ndsukqfhvtagkapzhp8nxdhpnfhu3vljj4fdgt6fmnpeszyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnwhn475c

2026-10-04T15:34:50Z

GM, Safe travels!

2026-10-04T14:34:43Z

In reply to nevent1q…vl6k
_________________________

GM, Safe travels!

GM 💜

2026-10-04T14:31:10Z

In reply to nevent1q…2c77
_________________________

GM 💜

Nostr event nevent1qqs8qsrggnunvpq9v9um28tvy4g2x238a9hp83rqhnsary07254taaqzyp08pu5h0fsjzn0zz4v95syljkfwvk73hqthryrsptnpjda3q9rnw2kl4k4

2026-10-04T14:29:59Z

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2026-10-03T17:49:42Z

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2026-10-02T19:12:38Z

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2026-10-02T19:12:08Z

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2026-10-01T11:21:25Z

JUST IN: Jim Cramer says "I think a bond short squeeze could ...

2026-10-01T02:51:54Z

JUST IN: Jim Cramer says "I think a bond short squeeze could actually occur."

🙃

Super intelligent 😅 ...

2026-09-30T17:46:34Z

Super intelligent 😅

145 years ago today, the great Ludwig von Mises was born, and the ...

2026-09-29T23:58:29Z

145 years ago today, the great Ludwig von Mises was born, and the world is better for it.

— saifedean (npub1gdu…6nak)

Happy Birthday Ludwig von Mises ...

2026-09-29T19:23:54Z

Happy Birthday Ludwig von Mises

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2026-09-29T17:14:41Z

What have you spent your Nostr zaps on?

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2026-09-29T12:16:08Z

In 1936, Keynes famously wrote that paying people to dig holes ...

2026-09-28T12:26:14Z

In 1936, Keynes famously wrote that paying people to dig holes and fill them back up would boost the economy. Meanwhile, French economist Bastiat was spinning in his grave, having warned a century earlier about the "broken window fallacy" - the illusion that destruction creates wealth.

When New Deal programs put thousands to work building bridges to nowhere, Keynesians cheered the employment statistics. But they ignored what Bastiat called "the unseen" - the private investments never made, the businesses never started, the innovations never pursued because capital was diverted to government make-work.

Today's politicians still invoke Keynesian magic, claiming every trillion in deficit spending creates prosperity. They see the government jobs, the infrastructure projects, the GDP bump.

They don't see the entrepreneur who couldn't get a loan, the startup that never launched, or the future growth sacrificed for today's political theater.

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2026-09-28T06:09:08Z

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2026-09-27T15:09:39Z

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2026-09-27T14:05:13Z

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2026-09-27T14:05:01Z

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2026-09-26T14:55:32Z

Carl Menger destroyed two thousand years of economic fallacy with ...

2026-09-26T12:40:32Z

Carl Menger destroyed two thousand years of economic fallacy with a single insight in 1871: value is subjective, existing only in the mind of the individual valuer. The classical economists—from Adam Smith to David Ricardo—had spent centuries chasing their tails, convinced that value somehow resided in objects themselves, whether through labor content or production costs. Menger obliterated this nonsense by pointing out the obvious: a glass of water means nothing to a man by a river but everything to one dying of thirst in the desert.

This breakthrough wasn't just academic—it was revolutionary. By grounding value in human choice and preference, Menger laid the foundation for understanding how markets actually work. Prices don't reflect some mystical "intrinsic worth" but emerge from countless individuals making subjective judgments about their personal wants and needs. And this happens spontaneously, without any central planner needed to "coordinate" anything.

The implications were devastating to statist economics before statist economics even fully existed. If value is subjective, then government price controls become acts of pure violence—bureaucrats literally imposing their subjective valuations on millions of others through force. If value emerges from individual choice, then socialism becomes impossible by definition. You cannot centrally plan what exists only in the minds of individuals.

But the establishment couldn't let this stand. The subjective theory of value made government intervention look like what it is: economic barbarism. So they spent the next century constructing elaborate mathematical models to obscure Menger's simple truth. British pedophile John Maynard Keynes and his disciples built entire careers on ignoring subjective value, pretending that wise technocrats could somehow calculate what only individual actors can know.

The Austrian revolution began with Menger recognizing that value lives in human minds, not in objects—and every government economist has been running from this truth ever since.

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2026-09-23T17:59:14Z

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2026-09-23T11:14:02Z

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2026-09-23T10:56:25Z

GM 🙌🏽

2026-09-23T05:00:23Z

In reply to nevent1q…pef4
_________________________

GM 🙌🏽

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2026-09-23T00:30:02Z

Looks like you’re addicted now. 😅

2026-09-22T19:03:46Z

In reply to nevent1q…pkyw
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Looks like you’re addicted now. 😅

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2026-09-22T18:10:08Z

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2026-09-22T18:08:42Z

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2026-09-22T12:09:57Z

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2026-09-20T15:59:45Z

🎯

2026-09-20T13:59:07Z

In reply to nevent1q…9q8l
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🎯

GM Derek ☀️💜

2026-09-20T13:58:42Z

In reply to nevent1q…ur8x
_________________________

GM Derek ☀️💜

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2026-09-20T13:45:26Z

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2026-09-20T13:40:59Z

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2026-09-19T17:10:17Z

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2026-09-19T16:56:34Z

Austrian Economics 1. Humans act. Every choice a person makes ...

2026-09-17T13:12:38Z

Austrian Economics

1. Humans act. Every choice a person makes traces back to an incentive, a trade-off, a cost weighed against a benefit. Remove the incentive and the action stops. Distort the incentive and the action warps.

Tax income at 90% and watch producers stop producing. Subsidize failure and watch failure multiply. The behavior follows the reward structure, always.

2. Value exists only in the mind of the person choosing. A glass of water is worth nothing to a drowning man and everything to a man dying of thirst. No central authority can calculate this, because it changes with every individual and every circumstance.

Nothing has value in itself, only the degree to which humans choose to value it. Diamonds and even gold only carry value because humans decided they do.

3. Money does not come from a government decree. It emerged spontaneously when traders needed something durable, divisible, and widely accepted to escape the limitations of direct barter. Gold won that competition across centuries and across dozens of independent civilizations because the market, not a ministry, chose it.

Fiat currency is the state hijacking that evolved institution and replacing it with paper backed by nothing but a legal threat. Every central bank on earth operates on this model right now.

4. Wealth does not fall from the sky. A farmer who eats his entire harvest produces nothing next season. The farmer who saves seed, plants it, and specializes in what he grows best accumulates a surplus. That surplus is capital. Capital funds everything that comes after.

Consumption without prior production is just burning down the furniture for warmth. Every welfare state eventually reaches this point.

5. Strip private property rights and production collapses. A farmer will work his own land until midnight. That same farmer, working collective land, stops at noon. The Soviet Union ran this experiment across seventy years and killed tens of millions, proving the point.

When you cannot own the outcome, you do not produce the outcome.

6. Voluntary trade generates wealth from nothing but mutual preference. When you pay twelve dollars for a meal, you value the meal above twelve dollars; the restaurant values twelve dollars above the meal. Both parties walk away wealthier in real terms. No politician, no regulator, no bureaucrat added anything.

Protectionism destroys this. The 2018 US steel tariffs raised steel prices for American manufacturers, killed more jobs in steel-consuming industries than existed in steel production itself, and transferred wealth from productive firms to a protected few.

7. Ludwig von Mises identified inflation as a tax. Every dollar the Federal Reserve creates without corresponding production dilutes every dollar you already hold. The new money flows first to the government and its contractors, who spend it at current prices. By the time it reaches you, prices have already risen.

The US M2 money supply grew from roughly 15 trillion dollars in January 2020 to over 21 trillion by early 2022. Consumer prices followed. Your savings took the loss.

8. Prices carry information. A price spike tells producers to produce more and tells consumers to use less. It coordinates millions of strangers without a single central command. Interfere with that signal and the coordination breaks.

Rent control in New York City is the cleanest example. Cap rents below market and landlords stop maintaining buildings, stop building new ones, and convert units to other uses. The people rent control was supposed to help pay the price through collapsing supply.

9. Interest rates are the price of capital over time. When the Federal Reserve pushed rates to near zero between 2008 and 2022, it told every investor that capital was nearly free. Businesses built projects that only made sense at zero percent. When rates normalized, the projects failed. The 2022 collapse of the US tech sector and the crypto market were not random events. They were the correction of a decade of artificially cheap capital.

The business cycle is not a mystery of capitalism. Central banks manufacture it.

10. Bureaucrats face no profit and loss. A businessman who misallocates capital goes bankrupt. A bureaucrat who misallocates capital writes a report requesting more funding. The feedback loop that disciplines markets simply does not exist inside a government agency.

The US Department of Education has spent over a trillion dollars since 1980. Literacy rates have not improved. No one at the department has been bankrupted by this outcome.

11. Every producer inside a local market holds knowledge that no bureaucrat in a capital city can replicate. A wheat farmer in Kansas tracks soil moisture, futures prices, local equipment costs, his specific buyer relationships, and a hundred other variables simultaneously. That knowledge lives in the price he sets.

Friedrich Hayek called this tacit knowledge in 1945. The Soviet central planners ignored him and spent fifty years proving him correct, producing chronic shortages of goods that private markets coordinate effortlessly. No model, no algorithm, and no committee can compress what millions of independent actors know into a single plan.

12. Every government intervention produces effects you see and effects you don't. You see the road the state builds. You don't see the factory the tax dollars never funded, the job that never existed, the innovation that never happened because capital was extracted at gunpoint and redirected by bureaucrats with no skin in the game.

Take the 2009 Cash for Clunkers program. Congress destroyed 690,000 working cars, handed dealers a short-term spike, and you saw the sales numbers. The used car market was stripped of affordable inventory, pricing working-class buyers out for years afterward.

13. Prices, supply chains, and language itself coordinate millions of strangers without any central planner issuing a single command. That coordination is spontaneous order: complex, functional patterns that emerge from individuals pursuing their own goals under rules they did not collectively design. No committee holds the dispersed local knowledge required to replicate what voluntary exchange produces every second.

Watch how English evolved. No king designed its grammar. Millions of speakers across centuries adopted words and structures that worked, dropped ones that didn't, and produced a language richer than any bureaucrat could have engineered. Central planners who believe they can replicate that process with price controls or production quotas destroy the feedback mechanism that generates the order in the first place.

Thanks for reading this long post! What would you add to this list?

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2026-09-16T18:12:25Z

It’s great news that Bill is losing control. ...

2026-09-15T21:26:47Z

It’s great news that Bill is losing control.

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2026-09-15T18:02:49Z

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2026-09-15T17:59:09Z