If American Federalism Were like Swiss Federalism, There Would be 1,300 States
In a recent interview with Mises Weekends, Claudio Grass examined some of the advantages of the Swiss political system, and how highly decentralized politics can bring with it great economic prosperity, more political stability, and a greater respect for property rights.
7. Theodore Roosevelt: The First Progressive, Part I
1. Financial Influence on Political Parties
Before 1896, the Democratic Party was roughly a party devoted to free trade and the gold standard, while the Republican Party stood squarely for a protective tariff and was more amenable to inflationist experimentation. Put very simply, the Democrats were particularly congenial to and influenced by Wall Street investment bankers, notably the Morgan interests and by the European Rothschilds, acting through their New York agent, August Belmont, who was for many years national treasurer of the Democratic Party.
High Home Prices Make America Great Again?
The Drudge Report today is celebrating a lack of affordable housing and claiming that high home prices somehow make everything “GREAT AGAIN”:
6. 1896: The Collapse of the Third Party System and of Laissez-faire Politics
1. The First Collapse: 1894
In the cataclysmic year 1896 the face of American politics was changed forever. With the capture of the Democratic Party by the inflationist, statist forces of William Jennings Bryan, the old Democracy of free trade, hard money, personal liberty, and minimal government was gone forever. As Grover Cleveland mournfully pronounced, “...
Paul Volcker Looks Pretty Good Right about Now
With Trump poised to announce his pick for Fed Chair on Thursday, former Fed boss Paul Volcker quietly announced the forthcoming publication of his memoirs. Hopefully we will be spared a shamelessly self-serving title like Bernanke’s The Courage to Act. But in contrast to the fanfare surrounding post-retirement books by Alan Greenspan and Bernanke, Volcker’s offering likely won’t resonate with the financial press.
RT Interview on Iron Law of Convergence
Here is the link to my RT “Boom-Bust” interview on the topic of the Iron Law of Convergence.
Secession — Not Military Intervention — Can Help Venezuela
Not too long ago, US President Donald Trump made headlines by suggesting a potential military option in Venezuela in the face of the country’s rapidly decaying political situation.
5. The Democratic Triumph of 1892
1. The Road to Democratic Triumph
1892 was the great year of resurgent Democratic triumph. It was the first time since the Civil War that the Democratic Party controlled the presidency as well as both Houses of Congress. The 3% difference in the popular vote (Democrats 46%, Republicans 43%, and minor parties 11%) was by far the largest gap in the totals since the Democratic presidential candidate Samuel Tilden swept the popular vote in 1876.
Personal Saving Falls to Lowest Rate Since 2007
According to the US Bureau of Economic Analysis, the US saving rate hit 3.1 percent in September. September’s rate was the lowest saving rate reported since December 2007, when the rate was 3.0 percent.
