Across the country we have seen Democrat-controlled states and cities announcing themselves as “sanctuaries” for immigrants in the opposition to policies handed down from the Trump administration.

While most of the headlines the Trump administration has made on foreign policy have tended to focus on Syria and North Korea, the President’s approach to Iran may end up being the most important. The appointment of infamous hawk John Bolton, whose career goal has been to spark regime change in Tehran, is understandably seen as an indicator that Trump may abandon his campaign rhetoric opposing regime change in the Middle East in the case of the Ayatollah.

On the Western Front a hundred years ago, a furious and decisive campaign was in progress. The great German Spring Offensive, often and rightly called the Ludendorff Offensive, was well into the process of launching about three million combat troops against the Allied lines. The Offensive would last from March 21 to July 18, 1918. The combined butcher’s bill for both sides in the three-month struggle would amount altogether to over a million and half men killed, wounded, captured, or missing. The twin objects of the German assault were to break the stalemate and end the war.

I am sorry to report that Leland Yeager passed away on April 23, at the venerable age of 93.  Although he described himself as a “fellow traveler” rather than a full member of the Austrian School, he greatly admired Ludwig von Mises and Murray Rothbard and made important contributions to Austrian theory.

In his essay, “Tautologies in Economics and the Natural Sciences,” he defended the deductive method of praxeology:

Taking a page straight out of 1984, Merriam-Webster’s online dictionary, recently changed the definition of assault rifle to fit pro-gun control talking points.

Bre Payton of the Federalist highlights how the online dictionary modified the entry for “assault rifle” with the following definition: 

Roll over David Ricardo, former White House Chief Strategist Steve Bannon, says a trade war is great for America’s Main Street, even if Wall Street doesn’t like it. “Ask the working people in Ohio, Pennsylvania and Michigan about Wall Street. Wall Street supported and cheered on the export of their jobs. To hell with Wall Street if they don’t like it. It’s time somebody stood up to them and Donald Trump is the perfect guy.

“It’s time to stop calling this a recovery, and start calling it a boom,” writes Noah Smith for Bloomberg.The Elliott Wave Financial Forecast (EWFF) reports, The National Federation of Independent Business index of small business owners “Now Is a Good Time Expand” rose to its highest level in the 45-year history of the survey. “Main Street is roaring,” says the NFIB’s president.

EWFF points out that it feels like the year 2000 all over again.

In 2017, for the first time ever, all Euro zone countries had a government deficit below 3% of GDP, thereby complying with the Stability and Growth Pact. Does this mean that the euro crisis is officially over? Have pessimists been wrong? Can governments boost government spending as they rejoice?

There are several reasons why the euro crisis is far from being over and government finances still unsustainable.

Patrick Newman joined the Tom Woods Show yesterday to talk about the Murray Rothbard book he edited on the Progressive Era.

Check out the episode here.