{"podcast":{"title":"Minor Issues","slug":"minor-issues-6016417","podcast_index_feed_id":6016417,"rss_url":"https://mises.org/podcast-feed/129227","website_url":"https://mises.org/podcasts/minor-issues","image_url":"https://mises.org/sites/default/files/minor-issues_v3_2400_20230127.jpg","author":"Mises Institute","episode_count":150,"summary":"Succinct economic commentary by Dr. Mark Thornton, senior fellow at the Mises Institute.","last_synced_at":"2026-07-26T10:21:13.039279+00:00","page_url":"https://stenobird.com/podcast/minor-issues-6016417"},"episode":{"title":"Two Important Graphs and Rick Rule","slug":"two-important-graphs-and-rick-rule","published_at":"2026-05-02T11:02:16+00:00","page_url":"https://stenobird.com/podcast/minor-issues-6016417/two-important-graphs-and-rick-rule","show_page_url":"https://stenobird.com/podcast/minor-issues-6016417","url":"https://mises.org/podcasts/minor-issues/two-important-graphs-and-rick-rule","audio_url":"https://dts.podtrac.com/redirect.mp3/cdn.mises.org/2026-05/175_Minor-Issues_Thornton_20260502.mp3","summary":"On the latest episode of Minor Issues, Mark Thornton opens with a detailed analysis of the gold correction. Is the three-month decline a sign that inflation is over, or a temporary reallocation driven by war? The answer is in the data: the CRB commodity index continues to climb, the money supply is at an all-time high, and there is no evidence of deflation anywhere in the price structure. The inflation regime remains firmly in place, and the gold correction is a normal feature of bull markets whose real-world zigzags get smoothed away on long-term charts. The second half features a panel interview from VRC Media with Rick Rule, hosted by Darrell Thomas. Rule lays out the case for a decade-long commodity super cycle driven by 30 years of underinvestment in productive capacity. He delivers a sobering calculation: $39 trillion in on-balance-sheet federal debt plus $120 trillion in off-balance-sheet unfunded entitlement promises (a combined $160 trillion against $170 trillion in total private American net worth). The only realistic resolution, Rule argues, is a \"dishonest default,\" inflating away the purchasing power of the dollar, just as happened in the 1970s when the dollar lost 75% of its value. Mark concurs, noting that the money supply is growing at record pace even as Washington insists it's being \"restrictive.\" Mark's \"Gold vs CRB Index\" graph is available here: https://mises.org/MI175_Graph The original VRIC interview is online here: https://www.youtube.com/watch?v=3kMiiC08TNo 20% off listener offer on the new insulated Minor Issues tumbler and three of Mark's books, signed if ordered by the end of April: https://mises.org/MinorIssuesTumbler . Use coupon code Thornton. Be sure to follow Minor Issues at https://Mises.org/MinorIssues","meta_description":"On the latest episode of Minor Issues, Mark Thornton opens with a detailed analysis of the gold correction. Is the three-month decline a sign that inflati…","key_points":[],"chapters":[],"topics":[],"duration_seconds":null,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/minor-issues-6016417/episodes/two-important-graphs-and-rick-rule/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/minor-issues-6016417/two-important-graphs-and-rick-rule.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}