deficit

Inflation Is Robbing Your Pocket, Whether You Realize Or Not

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All across the economic dashboard, inflation indicators are blinking red. Most recently, the Personal Consumption Expenditures (PCE) index, calculated by the Bureau of Economic Analysis, rose 5.7% from November 2020 to November 2021. That’s the biggest year-over-year surge since September 1983. Many mistakenly attribute today’s rising prices solely to supply chain woes, and government officials are happy to fertilize that mythology—as Kamala Harris reflexively did last week in her rambling, didn’t-do-the-reading response to a question from Margaret Brennan: The truth is, in the words of...

Lunatic With a Plan: Erdogan and Turkey’s Economic Woes

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Since the first assault on Turkey’s finances in 2018, which I wrote about multiple times (here, here, and here), I’ve been the lone voice telling everyone that President Recep Tayyip Erdogan is a lunatic but he’s a lunatic with a plan. That plan is to de-dollarize the economy of a valuable member of NATO geostrategically. Since the first shots across the bow by the Trump administration at Erdogan’s toying with those powers east of the Bosporus (Russia, China and Iran) the Turkish lira has been the primary mode of attack against Erdogan. Erdogan has pursued what has been deemed unorthodox...

The Blowback of 75 Years of Dollar Hegemony

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There is no question. The United States dollar dominates world commerce. In 2019, it made up 88% of global trade, and no other currencies came close. This dominance gave the United States power over any other country that exports anything from anywhere. For example, due to the mechanics of the petrodollar, oil is settled in dollars regardless of where it comes from. Consequently, not only does this frustrate U.S. rivals by making them vulnerable to trade sanctions, but ultimately causes them to craft savvier innovations to conduct commerce. This is what the Central Intelligence Agency...

Biden’s Keynesian Course: Riding the ‘Multiplier’

White House Chief of Staff Ronald Klain tweeted on Wednesday: “Stronger COVID measures produce STRONGER ECONOMIC outcomes.  That’s why jobs, growth, and economic activity are UP this year, significantly over last year.” Actually, jobs and economic activity have rebounded because governors are no longer locking down businesses, schools, and daily life. But Biden’s team is painting its latest COVID decrees as the key to renewed prosperity. Biden’s team is tacitly invoking a long history of multipliers to justify government interventions. In the 1930s, John Maynard Keynes popularized the...

The Fed’s Big Flub Up

What do the Federal Reserve and neoconservatives have in common? They both refuse to admit that their policies—the neocons’ promotion of perpetual war and the Fed's manipulation of the money supply—are complete failures, having produced the opposite of the promised results. The latest example of the Federal Reserve engaging in Bill Kristol-like levels of denial is the Fed’s continued insistence that the return of 70s-style inflation is a “transitory” phenomenon resulting from the end of the lockdowns. The Fed has acknowledged the “transitory” inflation will last until at least 2022, yet...

The Government Is Coming for Your 401K

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Quiet conversations are occurring in the halls of Congress, think tanks, NGOs, and academia on how to continue the enrichment of the public sector elites and their various complexes (military, education, financial, healthcare, and “non-profits”). The “wise men” know China's ability to absorb our inflationary monetary and fiscal policies is near capacity. Yes, the “undesirables” (mostly working class) are on their way out but with inflation rising the Federal Reserve cannot just keep printing money and monetizing the debt. A “wealth” tax on billionaires is not going to fly and will not...

What We Have to Gain from a National Default

The Biden administration's rhetoric on the debt ceiling has become nothing short of apocalyptic. The Treasury Department has announced that a failure to increase the debt ceiling "would have catastrophic economic consequences" and would, as NBC news claims, constitute a "doomsday scenario" that would "spark a financial crisis and plunge the economy into recession." Apparently, the memo went out to the debt peddlers that they are not to hold back when sowing maximum fear over the thought that the U.S. might government might pause its incessant debt accumulation even for a few days. The...

The Best Speech I Never Gave

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Prices convey information, even the price of zero. There is often more latent intelligence signaled by prices than by the claimed good intentions of political zealots—even those on the side of peace and liberty. On the fifth anniversary of the 9/11 attacks, I tromped to the National Mall in Washington to make a speech on the evils of the War on Terror. Antiwar demonstrators had organized Camp Democracy, a few blocks in front of the U.S. Capitol on the Mall. The speaking gig was arranged by a lady from the Veterans for Peace who I met at the 2004 National Libertarian Party convention....

Raising the Debt Ceiling Is Raising Your Taxes

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With Thursday’s passage of a continuing resolution that funds government operations until December 3rd, Congress dodged one fiscal cliff, but a bigger one looms ahead. The federal government has maxed out its credit, and if Congress doesn’t raise the statutory debt ceiling by October 18, the Treasury won’t be able to cover all of Uncle Sam’s obligations. With Democrats controlling the House, Senate and White House, Republicans have declared they’re leaving it entirely up to the Democrats to raise the ceiling through the budget reconciliation process. Democratic leaders and their...

Abandoning the 1980s: A Strategy for the GOP

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In 2022, the Republican Party has an opportunity to not just win back the House of Representatives but for the first time in a hundred years repudiate the constant creep of statism and Marxism eroding our liberties. But the GOP needs to drop its 40-year plus “game plan.” To be blunt, it is time to drop “cutting taxes," “increasing defense” budgets, and giving lip service to federalism and limited government. The greatest threat to liberty, living standards, and our natural rights has been driven by deficit spending. We expect Democrats to continue with socialism and authoritarianism but...

News

This Week At The Libertarian Institute

The Empire never sleeps – but neither do we. Missed a story? We got you covered. This week in review at the Libertarian Institute: News   June 24, 2022 – Senate Dems Press Biden to Investigate Killing of Palestinian-American Journalist Ahead of Israel Trip Senate...

News Roundup 6/24/2022

US News The State Department will pay employees who alleged they suffer from ‘Havana Syndrne’ six-figure payouts. State is making the payments in accordance with the HAVANA Act. [Link] Haiti At least eight prisoners died from starvation in a prison in Haiti. [Link]...

State Department ‘Illegally Obstructing’ Afghanistan Probes, Watchdog Says

The US government’s top oversight official for Afghanistan has accused the State Department and the US Agency for International Development (USAID) of stonewalling ongoing investigations, saying they have refused interviews with staff and even failed to provide “basic information” to assist the probes.

Blog

Week of Action on Yemen

Scott Horton and the Libertarian Party, among others, are whipping up support for a week of action to end US involvement in the Yemen War. And you can help. H.J. Res. 87 was introduced on May 31. The bill would "direct the removal of United States Armed Forces from...

Actually, Socialism IS When The Government Does Stuff

https://youtu.be/_-6CyEYetxM How is something to be owned by “the community as a whole?” Ownership means that you get to decide what is done with something. If you and I disagree on who gets to eat your apple, then whatever you decide will take precedence, because it...

The Scott Horton Show

6/17/22 Douglas Macgregor on the Lies Getting Ukrainians Killed

 Download Episode. Scott is joined by retired Col. Douglas Macgregor to discuss an article he wrote about the war in Ukraine. Macgregor points to the lies that got us into a situation earlier this year where a Russian invasion was inevitable and the lies that are...

Conflicts of Interest

Don't Tread on Anyone

6 Progressive Myths About History (w/ Lawrence W. Reed)

https://youtu.be/HsXj83JNUb4 In May 1939, Treasury Secretary Henry J. Morgenthau Jr., one of Franklin Roosevelt's best friends, testified before the House Ways and Means Committee: "I say after eight years of this Administration we have just as much unemployment as...

10 “Pro-Choice” Arguments – DEBUNKED (w/ Kristan Hawkins)

https://youtu.be/vgo8Uys-Xs4 The glory of the human race is the uniqueness of each individual, the fact that every person, though similar in many ways to others, possesses a completely individuated personality of his own. It is the fact of each person’s uniqueness —...

Liberty Weekly Podcast

National Review Senior Editor Turns Rothbardian Ep. 220

https://youtu.be/sJXF9jgj1L4 Managing Editor of the Libertarian Institute and longtime friend and guest of the show Keith Knight joins me in this week's episode to review an article by Joseph Sobran. Sobran was the Senior Editor of the National Review, but questioned...

Patrick MacFarlane on the Hrvoje Moric Show Ep. 219

https://youtu.be/yI1ND-TJR8g This week's episode is a mirror of my recent appearance on the Hrvoje Moric Show on Tnt Radio. We discuss the war in Ukraine, China, and the brave new world we are sleepwalking into. Hrvoje is the host of Geopolitics and Empire Podcast....

Empire of Death: America’s Moral Bankruptcy Ep. 218

https://youtu.be/7yZEk73JdVo In this episode, I take a deeper dive on my latest editorial up at the Libertarian Institute, share my experience at Chillderburg, introduce my new newsletter website, and thank several outlets that have started reprinting my Libertarian...

An Economic Reckoning ft. Clint Russell Ep. 217

https://youtu.be/B4rBZcugFw0 Clint Russell joins me in this week’s episode of Liberty Weekly. Clint is the host of Liberty Lockdown, a podcast that took the liberty scene by storm during the COVID-19 lockdowns. Before Clint launched Liberty Lockdown, he was a private...

Year Zero

A Deep Dive w/Monica Perez

Monica Perez joined me for an in depth conversation on culture, religion, ESG, WEF, the future, and how the 21st Century is different than the 20th Century. Monica Twitter Discord Libertarian Institute 19 Skills Pdf Autonomy Course Critical Thinking Course Donate...

Love and Fear w/Courtenay Turner

Courtenay and I talk ESG, intentional communities, motivations, elites, and the future. Courtenay Twitter Courtenay Turner Podcast Discord Libertarian Institute 19 Skills Pdf Autonomy Course Critical Thinking Course Donate Patreon...

Shadowy Figures Surrounding 9/11 w/Adam Fitzgerald

Adam Fitzgerald joined me to discuss the less talked about aspects of 9/11. We spent most of our time discussing the characters involved and around the event. We could have gone for hours on this subject, but as you will hear, I hit a wall at the 2 hour mark. Adam...

A Conversation with Patrick MacFarlane

Patrick joined me again. In this episode we discuss Ukraine Russia, China, culture, democrats, republicans, and traditional family. Liberty Weekly Discord Libertarian Institute 19 Skills Pdf Autonomy Course Critical Thinking Course Donate Patreon...

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