Looking Back And Forth

By Mark Thornton of The Mises Institute

Austrian Economics • Dec 21, 2025 at 9:23 PM EST

We discuss tariffs, inflation, metals, and interest rates; recaps his Bitcoin vs. Gold contest; and explains why a steepening yield curve could arrive even as the Fed cuts short rates.

Image Source: Pexels

The Minor Issues year-end episode: what 2025 really taught us and what 2026 may bring. Mark Thornton revisits tariffs, inflation, metals, and interest rates; recaps his Bitcoin vs. Gold contest; and explains why a steepening yield curve could arrive even as the Fed cuts short rates. Mark also maps the risks of an un-inversion and why today’s calm in CRE, private credit, and AI capex may mask fragility. Looking ahead, Mark previews the 2026 prediction contest: Stocks vs. Manure.

Video Length: 00:06:25

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The Boom Bust Cycle And The Federal Reserve
Inflation And The Intergenerational Housing Rivalry
The Next Economic Downturn Will Be Here Soon Enough

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