In recent days governments in Australia, Europe, and the US have moved toward imposing a new wave of forced lockdowns in the name of fighting the spread of COVID-19. Australia has imposed harsh new lockdown measures, including a curfew from 8 p.m. to 5 a.m. CNN reports:
If while driving your car you suddenly noticed that you were heading straight for a cliff edge, of course the sensible thing to do would be to apply the brakes and sharply turn the wheel.
After intense negotiations, long days and nights of clashes, and a distinctly sour note underlying the entire summit, European Union leaders finally agreed on an unprecedented €1.82 trillion ($2.1 trillion) budget and covid recovery package.
[Editor’s note by Trevor Daher: On June 15, 1948, Howard Buffett rose once again on the floor of the House of Representatives to passionately defend the cause of human liberty. Being debated in Congress this time was the Selective Service Act of 1948, whereby Congress would establish the Selective Service System and force young men to register for conscription. His remarks on that day were transcribed in the Congressional Record.
Fed chair Powell would shock the world if he said something like this:
The United States is showing resiliency and strength compared with other leading economies worldwide. The impact of the covid-19 forced shutdown crisis is lower in the United States than in Japan, Germany, France, the average of the European Union 27, and the euro area countries.
On the back of the economic crisis brought about by the covid-19 pandemics, we are witnessing—once more—so-called economists, historians, and pundits attempting to proclaim the failure of capitalism.
President Donald Trump and his administration recently announced that Kodak would be transformed into a pharmaceutical producer under the Defense Production Act (DPA).
