Stocks, Manure, Gold, and Socialism: Markets and Bad Ideas

Mark Thornton opens with an update on the “Stocks versus Manure” prediction contest, where agricultural stocks are beating the S&P 500 year to date. He then joins Maggie Lake on Wealthion to discuss gold, silver, mining stocks, Kevin Warsh, Fed policy, interest rates, the dollar, and why the long-term thesis for precious metals rests on debt, deficits, monetary inflation, and financial repression. On Side B, Thornton appears on NTD to discuss the rising appeal of democratic socialism among younger Americans. He argues that young voters are reacting to real burdens—debt, unaffordable education, healthcare, housing, and Social Security promises—but are being drawn toward policies that cannot solve them. Mark also explains why socialism fails in theory and practice, from the calculation problem to incentives, and why education is essential to reversing the trend. 2026 is the Year of Rothbard—Murray's 100th birthday—and we're celebrating by giving away free copies of The Origins of the Federal Reserve through July 31. Grab yours today at https://mises.org/issuesfree 20% off listener offer on the insulated Minor Issues tumbler and three of Mark's books: https://mises.org/MinorIssuesTumbler. Use coupon code Thornton. Be sure to follow Minor Issues at https://Mises.org/MinorIssues