Money supply growth rose for the third month in a row in February, continuing ongoing growth from October’s twenty-one-month low. Even with February’s rise, though, money supply growth remains far below the unprecedented highs experienced during much of the past two years. During thirteen months between April 2020 and April 2021, money supply growth in the United States often climbed above 35 percent, well above even the “high” levels experienced from 2009 to 2013.

The Evolution of Modern Grand Strategic Thought by Lukas Milevski. Oxford: Oxford University Press, 2016. 175pp., £50.00 (h/b), ISBN 9780198779773

One of the saddest quotes from the Vietnam War came from journalist Peter Arnett, who wrote in a dispatch in 1968 about an American attack on a Vietcong-held village: “It became necessary to destroy the town to save it.” As often happens with such quotes, they take on a second and even third life. Today, the Biden administration seeks to destroy the American economy ostensibly to save America from the dreaded climate change.

Monetary inflation is highly desired by the state. This has been the case thought history and still is the case today. That is because inflation facilitates government spending beyond the revenue it takes through taxation. Government spending gives rulers, politicians, and bureaucrats greater centralized control and commanding power over people’s lives (i.e., the economy and society).

Within days of the beginning of the Russian invasion of Ukraine, the Ukrainian regime applied for membership in the European Union. This is understandable from the perspective of Kyiv. If Ukraine is going to be denied membership in the North Atlantic Treaty Organization—as increasingly looks to be the case—the Ukraine regime could nonetheless increase its geopolitical connections to the West by joining the EU.