deficit

Not a ‘Soft Landing,’ But a Crash

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After more than a decade of chained stimulus packages and extremely low rates, with trillions of dollars of monetary stimulus fueling elevated asset valuations and incentivizing an enormous leveraged bet on risk, the idea of a controlled explosion or a “soft landing” is impossible. In an interview with Marketplace, the Federal Reserve chairman admitted that “a soft landing is really just getting back to 2 percent inflation while keeping the labor market strong. And it’s quite challenging to accomplish that right now.” He went on to say that “nonetheless, we think there are pathways…for us...

The Fed’s Rate Hike Is a Shot in the Dark

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The Federal Reserve’s Federal Open Market Committee (FOMC) today announced an increase of 75 basis points to the target federal funds rate, raising the rate to 1.75% from 1%. June’s meeting today was the third meeting this year at which the FOMC has raised rates. Coming into the March meeting this year, however, the FOMC had not raised the target rate since March of 2020, even though price inflation began to accelerate during the second half of 2021. Today’s 75-basis-point increase is the largest increase since late 1994 when the FOMC raised the target rate from 4.75% to 5.5%. Notably,...

How to Beat Inflation? End the Fed

President Joe Biden has unveiled a three-part plan to fight inflation—or at least make people think he is fighting inflation. One part of the plan involves having government agencies “fix” the supply chain problems that have led to shortages of numerous products. Of course, any attempt by the government to solve the supply chain problems (which were caused by prior government interventions such as shutting down the economy for over a year) will not just fail to solve the supply shortages but will create new problems. Deficit reduction is another part of Biden’s anti-inflation plan....

It’s 1979, Not 2009

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Break out your mom's bell-bottoms and dad's leisure suit from your parents' attic. It's 1979 again (at least economically) Don't listen to the perpetual doomsayers who claim this is the beginning of the big crash. It's not. Yes, the American economy is a huge mess, and the economy is going to get a lot worse. But no, it's nothing like the housing crisis of 2008 or the 1929 stock market crash that began the Great Depression. It's not even remotely similar. There Won't Be a Housing Crash It's true the housing crisis of 2008 was created by some of the same factors we have in our economy...

The Need to Act

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It’s hard not to fall into patterns. While some routines may be for the better, habits develop because they may be easier, comfortable. After weeks, months, or perhaps decades of neglect and self destructive behavior, a cycle can develop because of these bad practices. A promise is made that they will fix and recover, improve from their circumstances and rise from the ashes, ascending to heights of utopian glory...only to return to the habits that first inspired such a declaration (though each time it will be different). Ignoring the reality of accident and injury, for the purpose of the...

Europe Is Trapping Itself Through Monetary Manipulation

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There’s a lot of news flying around about the changes happening in global currency trading. From “Gas for Rubles” to “What the Hell is Going on With the Yen?” there are a lot of questions and very few answers as to what it all means and whose on which side of the divide. The Fed just hiked 50 basis points for the first time since 2000 and will be running off its balance sheet forcing the Treasury to stop issuing new debt at stupid rates. The European Union unveiled a sixth sanctions package against Russia which calls for a complete embargo of all Russian oil. Further to this the EU is now...

Abolish Society Security

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Social Security is the compulsory government retirement program Americans are required to pay into for as long as they are employed. All revenue which is used to pay for Social Security is acquired through payroll taxes. More specifically, it is acquired through Federal Insurance Contributions Act (FICA) taxes, which also fund Medicare and Social Security disability benefits. A specific portion of these taxes then pay for the benefits received by retired Social Security beneficiaries, currently a pension averaging $1,657 per month which is eligible to individuals over the age of 62. In...

The ‘Threat’ of the Big Bad Bear

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At the height of the late Cold War period, Andrew Cockburn wrote The Threat, a book that explored the bear cave of assumed Soviet military dominance. Challenging the narrative of Soviet supremacy—the belief that the Red Bear not only had greater numbers in their favor but also technological marvels that were capable of ensuring swift victory in time of war—Cockburn exposed myths that had been invented: a perceived supremacy that helped justify NATO, the Pentagon’s spending sprees, and a military-industrial complicated nation state that continues to grow long after the Berlin Wall fell and...

Our Monetary System Is Between a Rock and a Hard Place

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Last November, the Federal Reserve System announced tapering (a gradual reduction of the central bank’s monthly asset purchases to the point of ending the asset purchase program, which means that the Fed would stop increasing its balance sheet). In December, it announced another decrease in monthly asset purchases. And in the last Federal Open Market Committee meeting, held on December 14–15 and published in January, the committee participants spoke not only of finishing the tapering, but also of a faster rate hiking. In addition, participants spoke of reducing the Fed's balance sheet...

The Pharma Revolution Is Being Televised

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Marketing is essentially the art of persuading people to buy what they would not have bought, left to their own devices. This is achieved through manipulating either desires or perceptions of need. People who do not watch television are exposed to much less advertising of consumer products than are people who do. Similarly, the less time one spends surfing the internet, expressing either explicit or implicit interest in buying possible products, the fewer items there will likely be in one’s various shopping carts, not only because marketers now target people with ads catering to their...

News

News Roundup 6/22/2022

US News The Biden administration announced a change in US military policy that bans the use of anti-personnel land mines everywhere in the world, except for the Korean Peninsula. [Link] Almost 1,400 New York Army National Guard Soldiers are deploying to East Africa...

News Roundup 6/21/2022

US News President Joe Biden said he is considering a temporary gas tax holiday. The tax reduction would cut gas prices by 18.4 cents per gallon. [Link] Biden said rebate cards are also being considered. [Link] Miami police were offering $50 for handguns, $100 for...

Blog

Let’s Get ‘Defend the Guard’ on the Ballot in California!

"Resolved, That the Libertarian National Committee: Calls upon the State Legislatures to enact legislation to prohibit the States’ National Guard and any member thereof to be released from the state into active duty combat unless the U.S. Congress has declared war...

I Am Grateful For My Suffering

I am grateful for my suffering. I truly am. These are not words I utter in some halfhearted, feeble effort to brighten my mood or motivate my day. Fortunately for me, I am not battling depression. It’s been a challenging few years; Entrepreneurship. Battling Cancer....

The Scott Horton Show

6/3/22 Aisha Jumaan on How You can Help End the War Against Yemen

 Download Episode. Aisha Jumaan from the Yemen Relief and Reconstruction Foundation joined Scott on Antiwar Radio to discuss the war in Yemen. Despite little to no media coverage, which Jumaan recently wrote about, the war in Yemen as well as the consequences of that...

6/3/22 Hassan El-Tayyab: Some Good News on Yemen

 Download Episode. Hassan El-Tayyab came back on Antiwar Radio to give an update on the effort to end the war in Yemen. First, Scott and El-Tayyab discuss the last-minute extension of the two-month ceasefire. El-Tayyab reports that airstrikes have stopped completely...

6/3/22 Tom Secker on the Pentagon’s Control Over Top Gun: Maverick

 Download Episode. Scott interviewed British journalist Tom Secker about the Pentagon’s role in producing Top Gun: Maverick. The Department of Defense has an entire office set up to work with Hollywood. They give producers access to some military personnel as well as...

Conflicts of Interest

Don't Tread on Anyone

Economic Truths My Professor Lied About (w/ David Bahnsen)

https://youtu.be/8jK-rT-0SCk Defenders of free enterprise do not believe in a perfect administration under a market economy. Rather, we do not believe in the possibility of such. To the extent imperfect decision-making is accepted, we then seek to solve for who has...

‘What Is a Woman?’ – Six Things Conservatives Need to Know

https://youtu.be/GKZvdtiitLg “Biological sex [is] binary. It’s been binary for like a hundred million years, longer than that. Temperament is not binary, temperament or personality… people who talk about the diversity in gender are actually talking about diversity in...

The Problem With ‘What is a Woman?’

"Biological sex [is] binary. It's been binary for like a hundred million years, longer than that. Temperament is not binary, temperament or personality… people who talk about the diversity in gender are actually talking about diversity in personality and temperament…"...

Liberty Weekly Podcast

On the Brink of Nuclear War ft. Connor Freeman Ep. 216

https://youtu.be/CJ62Lw1PJsg In this episode of the podcast, I speak with Connor Freeman about the dismal state of U.S./Russian relations. We discuss the spiraling escalation in Ukraine and U.S. policy decisions which signal that the unthinkable may be inevitable....

Addiction and COVID-19 ft. The Clean Libertarian Ep. 215

https://youtu.be/38r3URgicX4 Much has been said about the excess rate of substance abuse during COVID-19. To try to understand some of these causes, I brought on my friend Drew Cook of the Clean Libertarian. Drew is a recovering addict who is now working to help other...

Press Censorship in Wartime Ep. 214

https://youtu.be/s5Jhj1smhFI With the risk of kinetic war between the US and Russia becoming more and more likely each day, the United States is already marshalling its forces to silence domestic and international dissent to the conflict. In this episode, I examine...

How World Leaders Justify Mass Murder ft. Laurie Calhoun Ep. 212

https://youtu.be/LuhS86vS9nY Laurie Calhoun joins me to discuss her book "War and Delusion," where she details how world leaders have used Just War Theory to wage wars of aggression. Further, we pose the question: In the modern era, is a "just war" even possible? We...

Year Zero

The Network w/John Robb

John Robb joined me to talk about the network, its operations, where it fails, and why he thinks conspiracy theorists are wrong. Global Guerillas Substack Discord Libertarian Institute 19 Skills Pdf Autonomy Course Critical Thinking Course Donate Patreon...

America’s Response to the War in Ukraine w/Dave DeCamp

Dave DeCamp joined me to discuss the American reaction to the war in Ukraine. We discuss how the sanctions and information war seem to be targeting Americans rather than the Russian politicians. Is the Biden Administration utilizing propaganda to manufacture consent...

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