We rightly associate a bubble activity with an expansionary monetary policy of the central bank. This type of policy gives rise to various undertakings that, in the absence of the expansionary monetary policy, would not have emerged. An expansionary monetary policy—through the lowering of the interest rates via increases in the money supply—diverts savings to various projects that emerged on the back of the expansionary policy.
President Donald Trump created new tariffs on April 2, a day he would come to call the Liberation Day. In July, he decided to increase tariff rates. On November 20, the same decided to pull 10 percent of the tariff he had imposed on Brazilian goods entering the US economy, leaving the rate at 40 percent.
The man who would weaken the state must begin, not at the tax office, but at its ministry of opinion. Rothbard shows in his classic essay, The Anatomy of the State, that a predatory ruling apparatus cannot endure by force alone; it requires a caste of “court intellectuals” to wrap plunder in a halo of necessity, science, and morality.
I can’t help but feel very sorry for the Venezuelan people.
Imagine living under a brutal and corrupt illegitimately-elected dictatorship, a national-security state form of government, and a full socialist economic system.
Oh, but unfortunately, that’s not all. Imagine also having to live in a country in which the most powerful military empire in world history is also waging war against the citizenry.
“The woke Left may be the greatest evil of all because I don’t see how they’re going to be defeated, certainly not in my lifetime [and] maybe in the lifetime of my grandchildren,” claims political theorist and intellectual historian Paul Gottfried.
[This article is adapted from Chapter 15 of The Global Currency Plot.]
The danger is obvious that the social revolution would change the tangible and visible ruling class of today, openly recognized as such, into a secret demagogic oligarchy operating under the guise of equality.
– ROBERT MICHELS
National Association of REALTORS® today released its November report on home sales. According to the report, home sales inched up for the month, rising from historic lows during a year of falling home prices and frustrated sellers quitting the market.
