As the US economy stumbles through rounds of inflation and self-inflicted crises, a look backward might be appropriate. To those that say we only should look to the future, the Federal Reserve’s history of the last two decades tells us that governmental and monetary authorities will do the wrong thing and make things worse. It is time to scrutinize the past.

The U.S. military has just announced that it has carried out two more murders on the high seas near South America. This now brings the military’s high-seas murders to more than 200 people.

Mind you, in its announcement, the military did not use the term “murder.” The announcement stated that the military is simply enforcing the U.S. drug war. But make no mistake about it: What the military is doing is engaging in state-sponsored murder, which is ordinarily a felony offense.

More from our “entrepreneur” class: Ellison: “Citizens will be on their best behavior, because we’re constantly recording and reporting everything that is going on.”