The European Central Bank balance sheet has risen to 53.9 percent of GDP in July 2020. This compares to the 32 percent of the Federal Reserve and 33 percent of the Bank of England. This means a €1.78 trillion increase year to date. Furthermore, excess liquidity has soared to €2.9 trillion, a €1.2 trillion increase since January.

New government spending projects amount to little more than government squandering wealth. The fact that the private sector does not undertake these projects indicates that they are of low priority to individuals. The implementation of these projects will undermine the well-being of individuals, because they are funded at the expense of projects that are of a higher priority and would otherwise be undertaken in the private sector.

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The United States added 1.76 million Jobs in July 2020, compared to a consensus estimate of 1.48 million. Unemployment fell to 10.2 percent versus the 10.6 percent expected. It is true that the rate of job creation is slowing down and labor force participation rate remains at 61.4 percent, but we need to compare the figures with those of the rest of the world, where we are witnessing a worrying “jobless recovery.”

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On August 12 the president tweeted “The ‘suburban housewife’ will be voting for me. They want safety & are thrilled that I ended the long running program where low income housing would invade their neighborhood. Biden would reinstall it, in a bigger form, with Corey Booker in charge!”

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Today is Dr. Ron Paul’s eighty-fifth birthday. He has always been a voice of wisdom, from the End the Fed campaign to his fight against the Iraq War to being a voice of sanity in the current covid-19 hysteria. He is a great American and one one of the foremost people ever to serve in Congress. Happy Birthday!

[From the October 1969 issue of Libertarian Forum.]

It has come to our attention increasingly of late that many self-proclaimed libertarians balk at the idea of abolishing slavery. It is almost incredible to contemplate, for one would think that at least the minimal definition of a libertarian is someone who favors the immediate abolition of slavery. Surely, slavery is the polar opposite of liberty?

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Since the beginning of the coronavirus pandemic, many governments around the world have taken advantage of the crisis, stretching the state’s scope to levels that erode individual liberty and overstep civil rights.