Not that QE ever really went away, but the European Central Bank is taking it up a notch with today’s rate cut. According to the Wall Street Journal today :

The European Central Bank cut its key interest rate and launched a sweeping package of bond purchases Thursday that lays the ground work for a long period of ultraloose monetary policy, jolting European financial markets and triggering an immediate response from President Trump.

Listen to the Radio Rothbard version of this article.

The term “liberalism” is a victim of what historian Ralph Raico has called “conceptual mayhem.”

As Jerome Tuccille famously wrote: “It usually begins with Ayn Rand.”

In September 11, 2001, terrorists flew planes into the World Trade Center and the Pentagon. Hours later, more than 2,900 people were dead, the overwhelming majority of them in the civilian office buildings at New York’s World Trade Center.

Within 24 hours, the US government was doing what it does best. It demanded more power, and set to work coming up with schemes for using its enormous military and national security apparatus — a group of agencies which had received more than half-a-trillion dollars during that fiscal year.

[The following is excerpted from a Foreword by Jeff Deist to our upcoming hardcover version of Henry Hazlitt’s classic Economics in One Lesson. Hazlitt was indeed a self-taught economist, but first and foremost he was a journalist. As a result, everything Hazlitt wrote exhibits great clarity and economy of words-- making him the perfect choice for lay readers who find economic theory intimidating.